Refinance hard money loan for rental

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Refinance hard money loan for rental

Daniel Hartz
Investor · Member since 2019 · 14 posts · 9 votes

I'm looking to refinance one of my LLC's rental properties in El Paso. The property doesnt ratio for a DSCR, so I'm shopping for a rate refinance from 10.99%. My credit is 745, I have $50k in equity, and the property has since had its significant rehab work completed. So yeah, that 10.9 sucks and im looking for lowest fix rate and monthly payment.

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Devin PetersonBusiness Member
Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
3mo
Quote from @Gabriel Miritello:
Quote from @Devin Peterson:

Whats the reason it doesn't cover the DSCR? Is it fully renovated and stabilized with a tenant?

Being an EP investor ill take a guess-high taxes low rent rates. EP is rough from what I have seen. Looking forward to hear back from OP.

Lots of creative ways to get a DSCR loan done. If taxes are higher and rent is lower. I reccommend longer am schedules or I/O options. Sometimes a rate buydown is necessary as well. It would help to also have proof of a current tenant paying a higher amount for at least 3 months to be able to use actual income over market rents. Just a few ideas!

[email protected]860-538-3672
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  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
    3mo

    Whats the reason it doesn't cover the DSCR? Is it fully renovated and stabilized with a tenant?

    [email protected]860-538-3672
    ProAlpha Capital56 Reviews
    WebsiteView Page
    0Reply
    • Gabriel MiritelloPro Member
      Rental Property Investor · USA · Member since 2018 · 77 posts · 38 votes
      3mo
      Quote from @Devin Peterson:

      Whats the reason it doesn't cover the DSCR? Is it fully renovated and stabilized with a tenant?

      Being an EP investor ill take a guess-high taxes low rent rates. EP is rough from what I have seen. Looking forward to hear back from OP.
      0Reply
    • Devin PetersonBusiness Member
      Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
      3mo
      Quote from @Gabriel Miritello:
      Quote from @Devin Peterson:

      Whats the reason it doesn't cover the DSCR? Is it fully renovated and stabilized with a tenant?

      Being an EP investor ill take a guess-high taxes low rent rates. EP is rough from what I have seen. Looking forward to hear back from OP.

      Lots of creative ways to get a DSCR loan done. If taxes are higher and rent is lower. I reccommend longer am schedules or I/O options. Sometimes a rate buydown is necessary as well. It would help to also have proof of a current tenant paying a higher amount for at least 3 months to be able to use actual income over market rents. Just a few ideas!

      [email protected]860-538-3672
      ProAlpha Capital56 Reviews
      WebsiteView Page
      1Reply
  • Robin SimonBusiness Member
    Lender · Austin, TX · Member since 2022 · 5k+ posts · 4k+ votes
    3mo
    Quote from @Daniel Hartz:

    I'm looking to refinance one of my LLC's rental properties in El Paso. The property doesnt ratio for a DSCR, so I'm shopping for a rate refinance from 10.99%. My credit is 745, I have $50k in equity, and the property has since had its significant rehab work completed. So yeah, that 10.9 sucks and im looking for lowest fix rate and monthly payment.


    Plenty of sub-1.00x (even "no ratio" required) DSCR Loans available right now - you should definitely be able to reduce that rate quite a bit

    [email protected]
    Harpoon Capital514 Reviews
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    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    3mo
    Quote from @Daniel Hartz:

    I'm looking to refinance one of my LLC's rental properties in El Paso. The property doesnt ratio for a DSCR, so I'm shopping for a rate refinance from 10.99%. My credit is 745, I have $50k in equity, and the property has since had its significant rehab work completed. So yeah, that 10.9 sucks and im looking for lowest fix rate and monthly payment.


     Happy to connect 

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
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    0Reply
  • Corinna Negron
    Member since 2026 · 129 posts · 21 votes
    3mo
    Quote from @Daniel Hartz:

    I'm looking to refinance one of my LLC's rental properties in El Paso. The property doesnt ratio for a DSCR, so I'm shopping for a rate refinance from 10.99%. My credit is 745, I have $50k in equity, and the property has since had its significant rehab work completed. So yeah, that 10.9 sucks and im looking for lowest fix rate and monthly payment.

    A completed rehab, 745 credit score, and equity position make this worth reviewing. We work with investment property owners on scenarios that don't always fit conventional lending guidelines. Send me a DM if you're still looking for refinancing options.



    0Reply
  • Vijay FriedmanBusiness Member
    Miami, FL · Member since 2026 · 766 posts · 122 votes
    3mo
    Quote from @Daniel Hartz:

    I'm looking to refinance one of my LLC's rental properties in El Paso. The property doesnt ratio for a DSCR, so I'm shopping for a rate refinance from 10.99%. My credit is 745, I have $50k in equity, and the property has since had its significant rehab work completed. So yeah, that 10.9 sucks and im looking for lowest fix rate and monthly payment.

    @Daniel Hartz
    Congrats on getting the rehab completed. With a 745 FICO, it's definitely worth shopping around. Depending on the rental income and equity, you may have more refinance options than you think. Hope you find a solution that lowers your payment.

    786-656-0387
    DreamPoint Capital
    WebsiteView Page
    0Reply
  • Simcha B Shedrowitzky
    Lender · Nationwide · Member since 2024 · 76 posts · 23 votes
    3mo
    Quote from @Daniel Hartz:

    I'm looking to refinance one of my LLC's rental properties in El Paso. The property doesnt ratio for a DSCR, so I'm shopping for a rate refinance from 10.99%. My credit is 745, I have $50k in equity, and the property has since had its significant rehab work completed. So yeah, that 10.9 sucks and im looking for lowest fix rate and monthly payment.


     Hey @Daniel Hartz, congratulations on finishing up the rehab work! A 745 FICO score and $50k in equity give you a very strong foundation to lower that 10.99% rate.


    At YS Capital Group, we frequently handle scenarios where high property taxes compress the DSCR ratio. You don't need to stay stuck in a costly hard money loan just because the current lease doesn't hit a 1.00x ratio.

    We can look at a few alternative pathways to maximize your cash flow:
    • No-Ratio DSCR Loan: We bypass the property's rental income completely, qualifying you strictly on your 745 credit and property equity.
    • Interest-Only (I/O) Options: Structuring the loan with an interest-only period to keep your monthly payments minimal.
    • Flexible Prepayment Structures: Rates starting as low as 5.875% with prepay structures built around your hold strategy.
    Let's run the quick numbers to see how much we can drop your monthly payment. Feel free to shoot over a DM, email me a quick summary at [email protected], or check out our investor options directly at YS Capital Group.
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