Refinance your rental with a DSCR Refinance - Not with your personal income
Pull equity out with a cash-out refinance, or lower your rate and term, using a DSCR loan that qualifies on the property’s cash flow. We break down all the requirements: LTV, credit, seasoning.
But here’s the part where most investors get stuck – timing. How long you have to wait before you can refinance an investment property. This page lays out the seasoning rules by scenario so you know your real timeline before you start.
- Business purpose lending ~46 states
- No personal income used
- Close under an LLC
- No rate-term refinance seasoning required
Is a DSCR refinance a fit?
The quick version of what lenders look at
Qualifies on
Property rent, not W-2 / tax returns
Minimum DSCR allowed
No ratio DSCR programs with Andes
Rate & Term seasoning
None
Cash-out seasoning
6 months
Bought with cash
Delayed financing available
DSCR refinance seasoning requirements, by scenario
“Seasoning” is how long you must own a property — or how long since its value changed before a lender will refinance it at the new value.
The requirement is different for a cash-out refinance, a rate-and-term refinance, and a property you bought with cash. Here’s how each one works, and how we work your deal accordingly at Andes Mortgage.
|
Scenario
|
Minimum seasoning
|
Value basis
|
Typical maximum LTV
|
|---|---|---|---|
|
Bought the property in cash or private funds (no mortgage)
|
No seasoning required, able to cash-out refinance immediately
|
Lesser of appraised value or documented purchase price plus rehab costs
|
75% LTV
|
|
Cash-out refinance
|
6 months
|
New appraised value
|
75% LTV
|
|
Rate and term refinance
|
No seasoning required
|
New appraised value
|
85% LTV
|
DSCR cash-out refinance for the BRRRR strategy
Buy, rehab, rent, refinance, repeat — the whole model depends on getting your capital back out at step four. Seasoning is where BRRRR investors get stuck. If you bought with cash or a hard-money loan, a delayed-financing refinance may let you recover your money without the usual wait; if you financed the purchase, you’re on the cash-out seasoning clock above.
01
Buy
Acquire below market, often with cash or short-term financing.
02
Rehab
Forced appreciation with renovations
03
Rent
Place a tenant so the property cash-flows.
04
Refinance
DSCR cash-out returns your capital — Available after 6 months of being on title.
05
Repeat
Redeploy the recovered capital into the next deal.
Other lenders and banks vs Andes Mortgage
As a mortgage broker, we work with over 40 different lenders and investors across the country. Lenders and banks only have their own internal guides. If you don’t fit in their box, your deal essentially gets turned down. At Andes, we place it where the guidelines fit.
Most lenders DSCR refinance
- 6 month seasoning for rate/term refinances
- 12 month seasoning for cash-out refinances
- Capped at the lesser of the original purchase price or at best, purchase price plus rehab cost if property is owned less than 12 months
- Up to 75% LTV for rate-term refinances
- Up to 65-70% LTV for cash-out refinances
Andes Mortgage DSCR refinance
- No seasoning for rate/term refinances
- 6 months seasoning for cash-out refinances
- Use the new appraised value
- Up to 85% LTV for rate/term refinance
- Up to 75% for cash-out refinance
DSCR cash-out refinance vs rate-and-term refinance
Both use the property’s cash flow to qualify. The difference is whether you walk away with money in hand or simply better terms.
Cash-out refinance
Replace your current loan with a larger one and take the difference as cash — to buy the next property, fund a rehab, or hold as reserves.
- Longer seasoning and lower max LTV than rate-and-term
- Cash-out proceeds can be used for business purpose
- Best for BRRRR and portfolio growth
Rate-and-term refinance
Swap into a lower rate, a longer term, or out of a short-term or hard-money loan — without pulling equity beyond closing costs.
- Shorter seasoning and up to 85% LTV allowed
- Common exit from a bridge or hard-money loan
- Typically lowers rate and monthly payment
DSCR refinance requirements
DSCR qualification centers on the property, not your personal income. These are the market ranges — your exact terms depend on the scenario and lender
DSCR ratio
No ratio programs with us and standard 1.0+ debt coverage for better rates and terms.
Maximum LTV
85% for rate-term refinances and up to 75% allowed on cash-out
Minimum credit score
We allow as low as a 640 credit score on DSCR refinances.
Refinance
DSCR cash-out returns your capital — this is where seasoning decides your timing
Reserves
3 to 6 months depending on LTV and loan amount.
DSCR refinance rates
DSCR rates run above owner-occupied because they’re business-purpose loans priced on the deal. Cash-out and lower DSCR ratios add to the rate. Below is where the current weekly ladder mounts.
Rates as of Sep 1, 2026
These rates are a few days old — ask us for today's pricing.
Lower rate, more points
6.250%
1.500 points
Fewer points
6.625%
0.250 points
Up to 75% LTV
Lower rate, more points
6.500%
1.500 points
Fewer points
6.875%
no points
Up to 75% LTV
Assumptions
- Credit score
- 760+
- Property type
- 1–4 unit investment
- Term
- 30-year fixed
- Prepayment penalty
- 5-year
- DSCR ratio
- 1.10+
- Max LTV
- 75%
Rates and points shown reflect Andes Mortgage's DSCR program ranges, synthesized from current wholesale pricing, and are illustrative, subject to change, and not a commitment to lend. Actual terms depend on a full review of your scenario.
DSCR loans are business-purpose financing priced nationally by program, so the pricing above applies across the states Andes serves — it isn't specific to one state.
Run your numbers for your investment property with us
Get an instant quote and options with Andes Mortgage. No credit pull required.
Frequently asked questions
How long before I can cash-out refinance after purchasing the property with a DSCR loan?
At Andes Mortgage, we require 6 months of seasoning for cash-out refinances. If you bought the property with cash and no mortgage, a delayed-financing refinance may let you recover funds sooner, capped at your original acquisition cost.
Is there a No Seasoning DSCR refinance?
Yes. At Andes, we do not have seasoning requirements for rate-term refinances. We can use the new value of the property, not the purchase price.
What's the seasoning period on a DSCR loan for a BRRRR strategy?
It depends on how you bought. Cash or private-money purchases can often use delayed financing; hard-money or mortgage-financed purchases go on the standard cash-out clock. Ownership length also determines whether your post-rehab appraised value counts.
Do DSCR refinances require me to show W2s and personal income?
No. DSCR loans qualify on the property’s rental cash flow measured against its debt payment, so tax returns and W-2s generally aren’t required. This is what makes them work for self-employed and full-time investors.
Ready to see what rate you qualify for?
Get a personal rate in minutes and explore your best loan options – no impact to your credit.
Andes Mortgage is a broker, not a direct lender — we work with more than 40 wholesale Non-QM lenders nationwide. The figures on this page come from those lenders’ current DSCR program guidelines, checked against the source before we publish. Treat them as representative ranges: your exact seasoning, LTV, and pricing depend on the lender, the program, and your specific deal. This page is educational, not legal advice, and not a commitment to lend.
Marcos Zambrano
President, Andes Mortgage · MLO NMLS #988935 · Mortgage professional since 2013