Lender Recommendations for activating equity in Wyoming 9 unit

[Nathan H.]

Hello BP!

Wondering if anyone has a commercial lender who would know where to find a loan to accomplish my goal... I have a 9-Plex worth 850k with 300k of debt. I would rather use debt to access my equity than sell. 

A couple of notable things:

- Underlying debt is at 4.5%, so if replacing that would have to be considered

- DSCR is fine. It can service more debt

- I have a very solid borrower profile

Thanks in advance for any input

[Devin Peterson]

You should be able to find a DSCR lender or broker who can help you pull out 75ltv cash out if needed. There are also some DSCR cash out 2nd equity loans available. I would weigh those two options out and see what costs less overall between an entire new loan and or the blended rate of the two. Good luck!