DSCR 80% LTV Cash-Out Refinance – 8-Unit Apartment (IL)

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DSCR 80% LTV Cash-Out Refinance – 8-Unit Apartment (IL)

Jasmin Saavedra
Member since 2026 · 4 posts · 0 votes

Hi everyone,

I’m seeking DSCR lenders for an 80% LTV cash-out refinance on an 8-unit multifamily property in Springfield, Illinois.

Property details:

• 8 units, multifamily

• Fully renovated and stabilized at refi

• Stabilized gross rents: ~$7,600/month

• Estimated NOI: ~$67,000/year

• Current loan balance: ~$560,000


What I’m looking for:

• DSCR cash-out refinance up to 80% LTV (subject to DSCR)

• Underwriting based on as-stabilized appraisal and market rents

• Long-term debt (30-year amortization preferred)

• Target DSCR around 1.15–1.20

• Minimal seasoning once stabilized

I prefer to review terms via email first so I can compare programs efficiently, and I’m happy to schedule a call once there’s alignment.

Please reply or message me if this fits your program.

Thank you,

Jasmin

0Reply
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Vijay FriedmanBusiness Member
Miami, FL · Member since 2026 · 766 posts · 123 votes
5mo
Quote from @Jasmin Saavedra:

Hi everyone,

I’m seeking DSCR lenders for an 80% LTV cash-out refinance on an 8-unit multifamily property in Springfield, Illinois.

Property details:

• 8 units, multifamily

• Fully renovated and stabilized at refi

• Stabilized gross rents: ~$7,600/month

• Estimated NOI: ~$67,000/year

• Current loan balance: ~$560,000


What I’m looking for:

• DSCR cash-out refinance up to 80% LTV (subject to DSCR)

• Underwriting based on as-stabilized appraisal and market rents

• Long-term debt (30-year amortization preferred)

• Target DSCR around 1.15–1.20

• Minimal seasoning once stabilized

I prefer to review terms via email first so I can compare programs efficiently, and I’m happy to schedule a call once there’s alignment.

Please reply or message me if this fits your program.

Thank you,

Jasmin

@Jasmin Saavedra

This is a strong multifamily DSCR scenario, but 80% LTV on an 8-unit cash-out refi will be very lender-specific.

The positives are that the property is already renovated, stabilized, and producing about $7,600/month in gross rents with an estimated NOI around $67k/year. That gives lenders a cleaner story compared to a property still in transition.

The main things I’d compare are:

  • DSCR using actual lender PITIA/debt service
  • Appraised value needed to support 80% LTV
  • Seasoning since rehab/stabilization
  • Cash-out limits
  • 5–8 unit eligibility
  • Whether lender uses actual rents, market rents, or both
  • Prepay and long-term fixed options

If the target DSCR is only around 1.15–1.20, 80% LTV may be tight, but it is worth reviewing. Some DSCR lenders may cap 5–8 unit properties lower, while others may still consider it if NOI, appraisal, and borrower profile are strong.

786-656-0387
DreamPoint Capital
WebsiteView Page
1Reply
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4 Replies

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  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    8mo
    Quote from @Jasmin Saavedra:

    Hi everyone,

    I'm seeking DSCR lenders for an 80% LTV cash-out refinance on an 8-unit multifamily property in Springfield, Illinois.

    Property details:

    • 8 units, multifamily

    • Fully renovated and stabilized at refi

    • Stabilized gross rents: ~$7,600/month

    • Estimated NOI: ~$67,000/year

    • Current loan balance: ~$560,000


    What I’m looking for:

    • DSCR cash-out refinance up to 80% LTV (subject to DSCR)

    • Underwriting based on as-stabilized appraisal and market rents

    • Long-term debt (30-year amortization preferred)

    • Target DSCR around 1.15–1.20

    • Minimal seasoning once stabilized

    I prefer to review terms via email first so I can compare programs efficiently, and I’m happy to schedule a call once there’s alignment.

    Please reply or message me if this fits your program.

    Thank you,

    Jasmin

    Hey @Jasmin Saavedra, welcome to the BP Forum! I could see you getting an 80% LTV on a purchase, but I'd be surprised if you can get anything greater than 75% LTV on a COR. Good luck!

    [email protected]
    0Reply
  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    8mo

    @Jasmin Saavedra - we can review and put together some pricing.  80% c/o on an 8-unit is going to be tough.  We do offer 80% on 1-4.  But, let's see what you have.  [email protected]

    0Reply
  • Vijay FriedmanBusiness Member
    Miami, FL · Member since 2026 · 766 posts · 123 votes
    5mo
    Quote from @Jasmin Saavedra:

    Hi everyone,

    I’m seeking DSCR lenders for an 80% LTV cash-out refinance on an 8-unit multifamily property in Springfield, Illinois.

    Property details:

    • 8 units, multifamily

    • Fully renovated and stabilized at refi

    • Stabilized gross rents: ~$7,600/month

    • Estimated NOI: ~$67,000/year

    • Current loan balance: ~$560,000


    What I’m looking for:

    • DSCR cash-out refinance up to 80% LTV (subject to DSCR)

    • Underwriting based on as-stabilized appraisal and market rents

    • Long-term debt (30-year amortization preferred)

    • Target DSCR around 1.15–1.20

    • Minimal seasoning once stabilized

    I prefer to review terms via email first so I can compare programs efficiently, and I’m happy to schedule a call once there’s alignment.

    Please reply or message me if this fits your program.

    Thank you,

    Jasmin

    @Jasmin Saavedra

    This is a strong multifamily DSCR scenario, but 80% LTV on an 8-unit cash-out refi will be very lender-specific.

    The positives are that the property is already renovated, stabilized, and producing about $7,600/month in gross rents with an estimated NOI around $67k/year. That gives lenders a cleaner story compared to a property still in transition.

    The main things I’d compare are:

    • DSCR using actual lender PITIA/debt service
    • Appraised value needed to support 80% LTV
    • Seasoning since rehab/stabilization
    • Cash-out limits
    • 5–8 unit eligibility
    • Whether lender uses actual rents, market rents, or both
    • Prepay and long-term fixed options

    If the target DSCR is only around 1.15–1.20, 80% LTV may be tight, but it is worth reviewing. Some DSCR lenders may cap 5–8 unit properties lower, while others may still consider it if NOI, appraisal, and borrower profile are strong.

    786-656-0387
    DreamPoint Capital
    WebsiteView Page
    1Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    5mo
    Quote from @Jasmin Saavedra:

    Hi everyone,

    I'm seeking DSCR lenders for an 80% LTV cash-out refinance on an 8-unit multifamily property in Springfield, Illinois.

    Property details:

    • 8 units, multifamily

    • Fully renovated and stabilized at refi

    • Stabilized gross rents: ~$7,600/month

    • Estimated NOI: ~$67,000/year

    • Current loan balance: ~$560,000


    What I’m looking for:

    • DSCR cash-out refinance up to 80% LTV (subject to DSCR)

    • Underwriting based on as-stabilized appraisal and market rents

    • Long-term debt (30-year amortization preferred)

    • Target DSCR around 1.15–1.20

    • Minimal seasoning once stabilized

    I prefer to review terms via email first so I can compare programs efficiently, and I’m happy to schedule a call once there’s alignment.

    Please reply or message me if this fits your program.

    Thank you,

    Jasmin


    I can see 70-75 LTV max on a 5+ Unit. 80 LTV will be very difficult. You might want to call a few local commercial banks as this will be very niche

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    1Reply
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