Im looking for a DSCR loan to refi cash out 70% LTV

[Frankie Perez]

have 2 properties I would like to cash out refi. Both properties have 0 balance since they were purchased with cash, so no current mortgage.I’m looking to cash out $150 k per property at 7% rate fixed 30 year and 2 points or less.
Is this something you can do?

My FICO is 740
Both properties are single family homes and the 1st property has an ADU in the Back.
No prepay if possible
First property: 1701 Patton Ave S, ST Pete 33712 (With ADU)(Owned it since Feb 2023)
Second Property: 4043 39th Ave N, ST Pete 33714 (It was purchased in 11/5/2023 so will need less than 3 month seasoning)
Rent on first property: $2400 per month
Insurance:$1800 per year
Taxes:$3200 per year

Second property is almost fully completed. It was renovated from top to bottom and will be completed this week.

Let me know if you can help with this loans.

Frankie Perez

[Alex Bekeza]

Make sure that you are very clear with the lenders that you speak with that these units are less than 700 square feet (at least that's what zillow says) before you get to far down the road or pay for an appraisal because that is by far the most challenging part of your request. Typical lender guidelines would state 500 minimum for attached units and 700 minimum for detached units. Any time I've ever successfully convinced a lender to agree to doing it on these types of homes it's on an exception basis only at reduced LTV w/ pricing adjustments assuming compensating factors are very strong (prevalence of comps of similar size, FICO, reserves, etc).