Newish Investor - DSCR loan options for a house hack duplex in San Antonio

[Rebecca B.]

I'm a newish investor, bought a duplex in San Antonio, TX to house hack last year. Major unexpected repairs meant we only had enough money to fix one unit in 2023, but I anticipate finishing renovations on the second unit by Summer 2024. These are the details:

• * Approx. ARV: $225,000
• * Loan balance: $135,000
• * Current mortgage rate: 7.65% APR
• * Monthly mortgage (PITI): $1520
• * Rents :
  • - 1 unit - $1500 (midterm rental)
  • - 1 unit - $800 (long term rental - anticipated rent)
• *Approx. FICO score: 690-700 (no negative marks but my DTI is kind of high at 30% usage)

The deal is not great, but please be kind. I'm doing my best to make it work. I want to refinance into a DSCR loan when renovation is complete. I've never used this type of loan product before but I'd really like to refinance into a DSCR loan. Are rates low enough for this deal to make sense? What kind of points, closing costs, and rates can I expect? Any resources where I can learn more about this type of loan?