Sarah Mendezbroker
Apr 21, 2026 at 7:21 PM
Seeking DSCR Lender: 2x 4-unit MF, Refi-Cash Out, 70% LTV, 1.25 DSCR, Secondary Market
Hey everyone,
I'm working on a refi-cash out deal for an experienced investor looking to pull equity from two existing 4-unit multifamily properties. Both are fully stabilized and performing well, but the current lender's rates are a bit high, and my client needs to free up capital for a new acquisition.
Here are the specifics: Two separate properties, both 4-units, located in a secondary market in North Carolina (think Raleigh/Charlotte surrounding areas, not primary core). Total loan amount needed is around $1.7M ($850k per property). Client is looking for 70% LTV based on current appraisals, and the DSCR is solid at 1.25x for each property. Client has 10+ doors in their portfolio, excellent credit (740+ FICO), and a strong track record. They're looking for a 30-year fixed DSCR product, ideally with a competitive rate and minimal prepayment penalties.
We've hit a wall with a couple of our usual lenders who are either too conservative on LTV for secondary markets or their rates are just not competitive enough for this client's goals. I'm looking for lenders who are aggressive on DSCR for experienced investors, comfortable with secondary market 4-units, and can offer a strong rate sheet for a 70% LTV cash-out refi. Any recommendations or direct contacts for lenders who fit this profile? Specific program details or recent term sheets would be super helpful. Thanks in advance!