All Forum Posts by: Ben Tharpe

Hi, all. This is my first post. Thanks so much for any responses. Been lurking for a while but couldn't find any guidance for this question. I just bought my first STR in Louisiana about a month ago and actively renting it out. Due to being self employed, my local mortgage lender required me to put $90,000 (40%) down on a $221,000 house since it was an investment property. (I already have a primary residence that I own) Sometime in the next year or so, I would like to do a cash out refi to use some equity to put towards my second rental property. Will a dscr loan work as a cash out refi? Meaning that they wouldn't need my tax returns and allow me to refinance with them and pull all of the equity out minus the typical 20% down. Since conventional loans require me to put so much down on investment, I'm thinking everything should be dscr for now?