Refinance Assisted living facility - Pensacola Florida

[Michael Hamby]

I have rehabbed and leased out a residential assisted living facility and need to pay back my private money lender. My DSCR lender just denied the refinance since the house is being used as a business. How do y'all finance these? Building is worth about $450,000 and rent amount is $3,500. The business is active been operating since Dec 2023. Pensacola Florida

[Nate Herndon]

@Michael Hamby I would utilize a program that only looks for the property to be leased (regardless of use) and does not have a DSCR requirement for loans under $500k. How much do you owe on the house?