Home / DSCR / No mortgage on the rental. You still have two ways to get cash.
Updated September 2026
DSCR guide
No mortgage on the rental. You still have two ways to get cash.
A paid-off rental is equity with a rent roll. DSCR cash-out puts a new first mortgage on it and hands you a lump sum. Leverage is often 70 to 75%, higher only when the screen says so. A HELOC, in GA, FL, TN, AL, NC, or SC, can be a line instead of a new 30-year loan. A DSCR HELOC can qualify on the rent, up to $1 million first lien or $500k second. Outside those six states, the HELOC is a no and the DSCR cash-out is the door. Neither one is free money. Both get repaid.
Sending a file is not an approval and not a credit pull. We text the same business day. We do not call. If we can structure it, we name the door. If we cannot, we say so.
The screen
| DSCR cash-out | HELOC | |
|---|---|---|
| Lien | New first mortgage | Line, first or second |
| Cash | Lump sum | Draw what you need |
| Where | Send the state | Six states only |
| Qualifier | Rent / PITIA | Rent on a DSCR HELOC, or income |
What we fund
- Paid-off rentals that should buy the next one
- Owners who want a line, not a new mortgage
- Files outside HELOC states that still need cash
What we still need. Short list.
- Credit is still reviewed. A lower score changes leverage, it does not skip the file.
- Reserves and down payment, sourced, when that screen asks for them.
- Appraisal plus a lease, market rent, or a short-term rent schedule.
- Entity documents if you close in an LLC.
Questions
Is a paid-off house easier?
The lien is easier. The rent, credit, and value still have to work.
Can I open a line and not draw it?
Sometimes. Some programs want an initial draw. We will say which.
Will this show up as income?
Loan proceeds are not rent. Tax treatment is for your tax person, not a text from us.
Related
These are the guidelines we screen. They are not a promise that your file hits the maximum. Credit-event seasoning, occupancy, and property condition still have to be confirmed. Not a commitment to lend. We text. We do not call.