DSCR 85% LTV Cash-Out Refi

[Alex Patton]

The title says it all.... I have heard rumors but none of my lending channels or contacts offer this for a refi.

I know there are lenders that will offer 85% LTV on a DSCR purchase, but does anyone offer this for a Refinance? The property in question checks all the boxes, we have an appraisal on file and we have a lease scheduled to start next month with security deposit and first month rent deposited, well over 1:1 even at a 8.5% rate. Because of the location, market conditions and characteristics of the property selling is not currently an option for us. We flipped it and went well over budget, so every dollar we can get back out of it would be helpful.

Thanks in advance.

[Erik Estrada]

Quote from @Alex Patton:

The title says it all.... I have heard rumors but none of my lending channels or contacts offer this for a refi.

I know there are lenders that will offer 85% LTV on a DSCR purchase, but does anyone offer this for a Refinance? The property in question checks all the boxes, we have an appraisal on file and we have a lease scheduled to start next month with security deposit and first month rent deposited, well over 1:1 even at a 8.5% rate. Because of the location, market conditions and characteristics of the property selling is not currently an option for us. We flipped it and went well over budget, so every dollar we can get back out of it would be helpful.

Thanks in advance.

Not on a Cash Out Refi, but I have seen 85 LTV on a rate and term refinance.