• Up to 75% LTV cash-out on 1-4 unit residential investment property
• Up to 70% LTV cash-out on short-term rentals and lower-DSCR scenarios
• No income verification - qualifies off property rent
• 6-month seasoning required to use new appraised value (90-day options exist with some lenders)
• Cash proceeds wired to you (or your LLC) at closing - no use-of-funds restrictions
• Same FICO / DSCR / reserves matrix as purchase DSCR

• You own a stabilized rental property with at least 25% equity (so 75% LTV cashout still gives you something useful)
• You've held the property for 6+ months (or paid cash, with some delayed-financing options)
• The property's rent covers the new (larger) loan at the DSCR ratio required (typically 1.0+)
• Your FICO is 620+

Apply, lender orders appraisal, underwriter calculates DSCR at the new loan amount, you close. Existing mortgage gets paid off at closing; cash difference wires to you. The lender does not ask what you plan to do with the cash - business-purpose cashout is fine for any investor use (down payment on next property, paying off a HELOC, paying contractors, sitting in reserves).

• New higher loan amount can break the DSCR ratio. If rent does not cover the bigger payment + taxes + insurance, the cash-out gets reduced or denied.
• Property tax often gets reassessed post-purchase (12-18 months in most counties). Run the math on the new tax bill before locking the new loan amount.
• BRRRR investors should time the cash-out to land right at 6-month seasoning; delaying compounds hard-money carry costs.
• Some DSCR cash-out programs require the property to be fully stabilized (12+ months of consistent rent collection). New rehabs without 6 months of rent history can have limited program options.