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Updated 10 months ago,
Can you HELOC/Cash-out Refinance a DSCR loan?
Hi! I'm very new to this all and have loved reading through the forums, I'm learning a ton. TIA for the guidance!
I've been learning about DSCRs, HELOCs, Heloans, Cash-out Refinancing, etc. lately and I just had the question come to mind: can you HELOC/Cash-out Refinance a DSCR loan?
My wife and I would like to buy a rental next year (most likely using a DSCR loan, to dodge the DTI requirement), but I'm not completely sure if that would get us stuck down the road. If our rehab/the appreciation of the next few years raises the property value to the point where we'd want to pull equity out of it to use toward a subsequent rental, would we be able to on a DSCR? If so, what would be the best way to go about doing that?
Thank you for the help! I really appreciate it.
Liam