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Based on each lender's published information; we did not apply for loans.
DSCR cash-out refinance terms by lender
| Lender | Max cash-out loan-to-value | Seasoning | Min DSCR | Prepayment penalty |
|---|---|---|---|---|
| Upright | 75% of value, capped at $1,000,000 in proceeds; no cap at 50% LTV or below | Some seasoning; inside six months of purchase, sized on the lower of cost basis or appraised value | 0.90x on long-term rentals | Choose 0 to 5 years |
| LendingOne | 75% | 90 days | As low as 0.75 | Zero to five years |
| Lima One Capital | 75% (single-family rental); 70% (short-term rental) | Full market value after 90 days; waived when refinancing a Lima One fix-and-flip loan | 1.0 | Low or none for a higher fee or rate |
| Kiavi | Up to 80% (its DSCR page does not split purchase and cash-out) | After 90 days of ownership; immediately on free-and-clear properties | 0.8x | None after year 3 |
| RCN Capital | 75% at 700+ credit; 70% at 680 to 699; 60% at 660 to 679 | Not stated | 1.00 | Not stated |
| Easy Street Capital | 75% | Not stated | No minimum | Typically 5/4/3/2/1; other options |
| Ternus | 75% | Not stated | 1.00x at 680+ credit; 1.15x at 650 to 679 | Its page says both none and contact for current structure |
| Express Capital Financing | 75% | Not stated | 1.0x (its table also reads 'No DSCR Available') | None, 1-0-0, 3-0-0, 3-2-1 or 5-4-3-2-1 |
| Griffin Funding | 80% | No-seasoning options available | No minimum ratio | No-penalty options; rate depends on the term |
| CoreVest | Up to 80% of value on single-asset DSCR loans | Cash-out generally capped for the first six months | 0.80x | Depends on the loan |
| Visio Lending | 75% (its cash-out guide) | Not stated | Not stated | None in KS, MD, NM, OH, PA and RI (required there) |
| New Silver | Up to 80% (not split by purpose) | Not stated | 0.75 | Yes, if applicable (no schedule stated) |
From each lender's own website, read October 29, 2026. "Not stated" means the pages we read do not say. Terms change; confirm with the lender. Not financial advice.
How much cash you can take out
The lender sizes the new loan as a share of the appraised value, pays off what you owe, and the rest is your cash before closing costs. Most lenders above stop at 75% of value on a cash-out refinance; Griffin Funding publishes 80% for cash-out, CoreVest, Kiavi and New Silver publish 80% without a separate cash-out figure, and RCN Capital steps down to 60% below 680 credit. Upright also caps proceeds at $1,000,000 unless the new loan is at or below 50% of value.
Example: a rental worth $400,000 with $180,000 owed, renting for $2,800 a month, with $4,800 a year in taxes and $1,800 in insurance, at an example rate of 7.25% on a 30-year loan.
| Loan-to-value | New loan | Cash out before costs | Principal and interest | PITIA | DSCR |
|---|---|---|---|---|---|
| 75% | $300,000 | $120,000 | $2,047 | $2,597 | 1.07 |
| 70% | $280,000 | $100,000 | $1,910 | $2,460 | 1.13 |
| 75% interest-only | $300,000 | $120,000 | $1,812 | $2,362 | 1.18 |
At 75% of value you take out $120,000 before costs, and the ratio is 1.07: enough for lenders with a 1.0 minimum but not for Ternus's 1.15 at 650 to 679 credit. Ratios here are rounded down to two decimals. Borrowing 70% instead lifts it to 1.13; an interest-only payment lifts it to 1.18. The rate, taxes and rent here are example inputs, not quotes; run your own numbers in the DSCR calculator.
Seasoning: how soon you can refinance
- 90 days: LendingOne requires 90 days for cash-out. Kiavi allows cash-out after 90 days of ownership, or immediately on a free-and-clear property. Lima One Capital lends on full market value after 90 days.
- Six months: Upright sizes files inside six months of purchase on the lower of your cost basis or the appraised value, and CoreVest says DSCR cash-out refinances are generally capped for the first six months.
- Refinancing out of a flip or bridge loan: Lima One waives seasoning when you refinance its own fix-and-flip loan.
- No seasoning: Griffin Funding says no-seasoning options are available.
Prepayment penalties on the new loan
Most cash-out DSCR loans are 30-year loans, and many carry a step-down penalty if you pay it off early. Easy Street Capital describes its typical 5/4/3/2/1 as 5% of the remaining balance in year one, stepping down each year. Upright, LendingOne and Express Capital Financing let you pick a shorter penalty or none. Lima One says a low or no-penalty option costs a higher fee or rate, and Griffin Funding says your rate depends on the penalty term. If you may sell within a few years, price the no-penalty option.
Before you apply
- Order a realistic value: the appraisal sets the loan, not your estimate.
- Check your ratio at the new, larger payment; cash-out lowers your DSCR.
- Ask how the lender treats a property bought within the last six months.
- Compare the rate with and without a prepayment penalty.
Related guides
Frequently asked questions
How soon can you do a DSCR cash-out refinance?
It depends on the lender. LendingOne requires 90 days; Kiavi allows cash-out after 90 days of ownership or immediately on a free-and-clear property; Upright sizes loans inside six months of purchase on the lower of cost or appraised value; Griffin Funding says no-seasoning options are available.
What is the maximum LTV on a DSCR cash-out refinance?
Usually 75% of the appraised value. Griffin Funding publishes up to 80% for cash-out; CoreVest, Kiavi and New Silver publish 80% without a separate cash-out figure; RCN Capital lowers it to 70% at 680 to 699 credit and 60% at 660 to 679.
Is there a limit on how much cash you can take out?
Some lenders cap it. Upright caps cash-out at $1,000,000 in proceeds unless the new loan is at or below 50% of value. Most lenders cap the loan by loan-to-value rather than by dollar amount.
Can you do a DSCR cash-out refinance with a ratio below 1.0?
With some lenders. Published minimums include 0.75 at LendingOne and New Silver, 0.8 at Kiavi and CoreVest, 0.90 at Upright on long-term rentals, and no minimum at Easy Street Capital and Griffin Funding.