Ohio DSCR Cash-Out Refinance Provides Funds for Two More Rentals
An Ohio investor with more than twenty rental units pulled equity from an appreciated five-unit building without a global review of his entire portfolio, funding two additional purchases.
Loan Snapshot
- State
- Ohio
- Property Type
- Five-Unit Residential
- Loan Purpose
- Cash-Out Refinance
- Loan Amount
- $494,000
- LTV
- 65%
- DSCR
- 1.14
- Days to Close
- 22
Borrower profile, generalized to protect privacy: a portfolio owner with more than twenty rental units across several buildings.
An actual closed transaction. Certain details have been generalized to protect client privacy.
The Situation
An experienced Ohio investor owned a five-unit residential building that had increased considerably in value. He wanted to convert part of that equity into the capital for his next two projects: purchasing and renovating two additional rental properties.
Why the Bank Said No
His local bank was willing to consider the request, but only after a full personal and business income review. That meant tax returns, financial statements, leases, and mortgage statements for every property and entity he owned; a global cash-flow analysis that would have delayed both purchases he was trying to complete.
The Financing Approach
The refinance was completed through a DSCR cash-out program that focused on the subject property alone: its rental income measured against the proposed housing payment. The borrower kept substantial equity in the building after receiving the requested funds, and no portfolio-wide documentation exercise was required.
The Outcome
The loan closed in October of 2024, in just over three weeks. The borrower received the funds needed for the down payments and renovation budgets on two additional rental properties while the building continued performing.
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The Borrower's Challenge
The borrower had strong equity and stable rental income, but the bank wanted tax returns, financial statements, leases, and mortgage statements for his entire portfolio. That process would have delayed the two purchases he was trying to complete.
The Loan Structure
A DSCR cash-out refinance closed in the borrower's LLC, underwritten on the five-unit building's rental income against the proposed payment.
How We Solved It
Underwriting confined the review to the subject property's income and equity position instead of a global cash-flow analysis across every property and business entity the borrower owned.
The Result
The borrower received the funds needed for the down payments and renovation expenses on two additional rental properties.
Actual scenario; certain details have been generalized to protect client privacy. Individual results vary. This is not a commitment to lend, and past outcomes do not guarantee the terms, timing, or approval of any future loan.
Reviewed by Eddie Luhrassebi, Founder & CEO, NMLS #337071 | CA DRE #01230650
Last updated: July 16, 2026 · About the reviewer