The purpose of this test is to ensure that the property generates enough rental income to cover the property's mortgage payment, including principal, interest, taxes, insurance, and homeowners association dues (if applicable).Key Points of the FHA Self-Sufficiency Test:Applicable Properties: The self-sufficiency test applies only to 3- or 4-unit properties being purchased or refinanced with an FHA loan.

When buying a house or refinancing, you will have closing costs. 

While most private lenders typically have seasoning requirements ranging from 6 months to a year for refinancing, even with a DSCR loan, there are some lenders who don’t have any seasoning requirements at all.It’s definitely worth exploring your options if you’re looking to access your cash sooner.

I used to dream about refinancing at only 6 or 6.5%. 

I, personally, have a owner-financing loan on a property I recently bought that I plan to refinancing once the rates are lower and to get better cashflow just on that.You mentioned that you are considering Destin West.

It may be worth taking out a cash-out rehab loan then refinancing it afterwards into a DSCR.

@Michael Opper You could look at refinancing some of your properties like @Jackson Ebersole is saying.

Current home value: $523,000Amount owe: $263,000Equity: $259,000Interest rate/loan: 2.25%/30 yearobviously refinancing would be a hit with that interest rate, considering either selling or HELOC and investing into multi fam via house hacking. 

What up guys. So I just bought a 8 unit building for 1.3 great deal 9.8 cap rate. But I owe my LOC 500k now. I’m trying to find out how much money can I pull out from the 8 unit which is now valued at 1.7 million. I w...

Closing cost is same 13k.Hopefully, I will be refinancing the loan after 1 year(hoping interest rate will come down in 1 year).