15.99% for an unsecured loan in this environment is more than fair.

To be more granular, the note rate on FHA loans tends to be a little better than most other options given a set of loan variables.

DSCR loans specifically can be pretty FICO score sensitive. 

This seems ridiculous to me considering that's almost 40%-50% of the loan we are seeking.

We are needing to refinance a loan that is maturing.

I've seen programs that go down to a $100,000 USD loan amount for foreign national DSCR loans.

States which DO NOT require licensing for originating or negotiating a loan secured by commercial real estate nor a loan secured by non owner occupied residential real estateALASKA ARKANSAS COLORADO CONNECTICUT DCDELAWARE FLORIDA GEORGIAHAWAIIIOWAINDIANAKANSAS KENTUCKY INDIANAKANSAS LOUISIANAMASSMARYLAND MAINEMISSOURI MISSISSIPPI MONTANANORTH CAROLINA NEBRASKANEW HAMPSHIRE NEW MEXICO OHIOOKLAHOMA PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA TENNESSEE TEXAS WASHINGTON WISCONSINWEST VIRGINIAStates which DO NOT require licensing for originating or negotiating a loan secured by commercial real estate but DO require licensing for a loan secured by non owner occupied residential real estateIDAHO MINNESOTA OREGON UTAH VIRGINIA States that DO require licensing for both residential and commercial real estate loan origination and brokeringARIZONACALIFORNIAILLINOIS MICHIGANNEW YORK NORTH DAKOTA NEW JERSEY NEVADASOUTH DAKOTA Does this still hold true for 2025? 

I came across one of these loan agreements online somewhere a few months ago, can't recall where I found it but it was clear in reading the loan agreement there was no language referencing the loan actually encumbering real property, it was just an unsecured loan.  

The loan would be $1M+.

These lenders originate their loans and hold them to maturity, like us, or they might sell them one at a time to an investor like you (?).