Hi Gillys - for DSCR deals and refis in Akron, lenders size mainly off the property's rent versus the full payment (principal, interest, taxes, insurance), usually looking for roughly a 1.20-1.25 ratio or better, plus credit and reserves. They will underwrite the lease or market rent rather than your personal income, which makes packaging the rent and property numbers up front important. I am Marc with Royal Partners - if you want, DM me the address, purchase price or value, expected rent, and rough loan amount on a deal you are looking at and I will give you straight numbers on how it would pencil.
Hi Gilly, I do have a lender whom we used previous on our deal. He is based in Ohio. I'm sure the can work with you. They provide 95% financing or provide 100% depends on the deal. Let's connect I can share info.
Hi Gillys, Benny Katz with ATZI. We place DSCR loans for purchases and refinances (rate-and-term or cash-out) in Ohio, qualified on the property's rent instead of your personal income. If you tell me how many properties, their estimated values, current rents, and any existing loan balances, I can put a quote together. I'll send you a private message too.
Hi Gillys - for DSCR deals and refis in Akron, lenders size mainly off the property's rent versus the full payment (principal, interest, taxes, insurance), usually looking for roughly a 1.20-1.25 ratio or better, plus credit and reserves. They will underwrite the lease or market rent rather than your personal income, which makes packaging the rent and property numbers up front important. I am Marc with Royal Partners - if you want, DM me the address, purchase price or value, expected rent, and rough loan amount on a deal you are looking at and I will give you straight numbers on how it would pencil.
Gillys, Akron rentals and DSCR loans are a pretty good match since the rent to price ratios there tend to work. DSCR lenders mostly care about the rent covering the payment, so pull together your leases or a rent estimate for each place and decide if the refi is cash out or just a better rate, because that changes the max loan amount. My team and I can point you to someone good for Ohio if that helps.
Hi Gillys! We may be able to help you explore DSCR and refinance options for your investment properties. Feel free to DM us or email [email protected] to discuss your needs.
I’m Adrea with EquityNest Capital. We provide commercial real estate and business-purpose lending. Whether you are shopping for the best refinance deal, or seeking approval for an atypical DSCR purchase, we have a range of lending solutions in Ohio.
I’d be glad to look at the Akron DSCR purchase and refinance scenarios you have in mind. If you share one property’s address, purchase price or current value, loan balance, rent, requested loan amount, credit range, entity structure, and whether the refinance is rate-and-term or cash-out, I can tell you whether there is a realistic fit. No pressure.
Akron is a good DSCR market because the rents usually cover the payment at those price points, but a lot of lenders have a $75k or $100k minimum loan, which matters on cheaper Akron houses. For purchases figure on 20 to 25% down and a few months of reserves, and on refis most want the lease plus a few months of seasoning. Happy to run a couple of options for you if you have a property in mind, just DM me.
I came across your post regarding DSCR financing and refinancing opportunities in the Akron area.
I'm with Gilfurt Capital, where we assist real estate investors with investment-property financing, including DSCR loans, acquisitions, and refinancing.
I'd welcome the opportunity to learn more about your financing needs and explore potential lending options through our network.
Are you currently looking to refinance an existing investment property, finance a new acquisition, or both?
Hey Gillys — Akron DSCR purchases and refis are right in my wheelhouse. Happy to walk through how a deal would pencil on rents, LTV, and credit. Give me a call when you want to talk numbers (my number's in my signature below).