Refinancing Advice needed for First Time Investor and DSCR Lender Recommendations

[Melissa Faraias]

Hello BP community,

I am close to finishing the rehab on my first rental property and looking to refinance soon. Does anyone have any good DSCR lender recommendations? The property is located in Houston.

A lender that I spoke with gave me two options for refinancing; the first involves refinancing immediately after the rehab is complete and renting it out to a tenant. In that case I could get upto 80% LTV of purchase price plus rehab costs. The second option involves waiting for the 6 month seasoning period and then getting upto 75% LTV of the ARV. Normally I would wait the 6 months, but the lender anticipates interest rates to go up significantly by then. Looking for some advice on what would be the best route to take. Thanks in advance for all the valuable advice.