DSCR Lenders willing to take a second position

[Timothy OConnor]

Good Evening BP members, 

I am looking to take equity out of a very strong performing long term rental. I want to use a DSCR loan, but I see many DSCR lenders are not willing to take a second position when underwriting these types of loans. Has anyone had success finding a lender who would accommodate this? I've heard whispers that they are out there.

Thank you! 

[Robin Simon]

Quote from @Timothy OConnor:

Good Evening BP members, 

I am looking to take equity out of a very strong performing long term rental. I want to use a DSCR loan, but I see many DSCR lenders are not willing to take a second position when underwriting these types of loans. Has anyone had success finding a lender who would accommodate this? I've heard whispers that they are out there.

Thank you! 

DSCR Loans in second position is not a thing - you might find a DSCR Lender that have other products that fit this need, like a Closed End Second or HELOC, but they aren't really "DSCR Loans" - I think you are likely looking for a CES (it is true however that you are correct in looking at the same place though, most of the lenders offering this on rentals are also DSCR Lenders)