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The problem: most lenders make you wait
Buy a rental, put work into it, and it’s worth more than you paid — but most DSCR lenders won’t let you refinance against that new value for six months, sometimes twelve. Until then, they size any cash-out off your purchase price. For a BRRRR investor — buy, rehab, rent, refinance, repeat — that wait is the whole bottleneck: your capital stays locked in the deal you just finished instead of funding the next one.
Title seasoning vs. value seasoning
- Title seasoning
- How long you must already own the property before a lender will allow a cash-out refinance at all.
- Value seasoning
- How long before the lender will use the property’s current appraised value instead of your purchase price — the rule that decides whether a BRRRR refinance captures the value you added.
This DSCR cash-out refinance carries neither requirement on loans of $100,000 or more: no title seasoning, and the new appraisal counts immediately.
The program in plain numbers
| Term | No-seasoning DSCR cash-out |
|---|---|
| Minimum loan amount for no-seasoning | $100,000 |
| Title seasoning, $100K+ | None |
| Title seasoning, under $100K | 6 months |
| Valuation used ($100K+) | Current appraised value, not purchase price |
| Max LTV, cash-out | 75% |
| Max LTV, rate-and-term | 80% |
| After 12 months on title | Long-term rental cash-outs unlock 80% LTV |
| Loan range | $75,000 – $3,000,000 |
| Property types | 1–4 unit investment properties |
| Where offered | 44 states plus Washington, D.C.: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV and WY |
Worked example
An investor buys a rental for $250,000 and puts $30,000 into a rehab. Thirty days after closing, it appraises for $310,000. With no title or value seasoning, the refinance is sized off the $310,000 appraised value — not the $250,000 purchase price — up to 75% LTV, or about $232,500. No waiting for a seasoning clock; the refinance happens as soon as the appraisal does.
How seasoning compares across programs
| Program | Seasoning before cash-out / refinance |
|---|---|
| DSCR cash-out refinance, $100K+ | None — appraised value counts immediately |
| DSCR cash-out refinance, under $100K | 6 months |
| DSCR rate-and-term refinance | None to start; 12 months unlocks 80% LTV on long-term rentals |
| HELOC | No title seasoning (Texas: 12-day statutory minimum) |
| Land-contract refinance | 6 months |
Who this is for
BRRRR investors who need their capital back fast; portfolio builders scaling past conventional limits; anyone who bought under market value and doesn’t want a refinance that ignores it. All qualify on the property’s rent — no tax returns or employment verification — and can vest personally or in an LLC, with no cap on the number of financed properties. Full program details are on the DSCR loan page; see also how to choose a DSCR lender.
