How Do I Access the Equity in My Investment Property?
At NSS Lending, LLC, we understand that owning investment property can be a great way to build wealth over time. If you’re an investor wanting to grow your portfolio of properties, you may want to consider accessing the equity in one (or more) of your income producing investment properties, leaving other assets, such as your retirement funds or personal home equity untouched, and use it to purchase additional income producing real estate. We offer two ways to access the equity in your investment property; refinance the entire mortgage or apply for a 2nd lien. Either way we strive to make it a smooth and hassle-free experience.
Starting at $75K
Up to 75% LTV
Up to 75% of the As-Is Value
Minimum credit score 660
Minimum DSCR .75
30-Year Fixed, Hybrid ARMS (5/1, 7/1, 10/1) & Interest-Only Options Available
Single family
Warrantable & Non-warrantable
Condos & townhomes
Condotels
Mobile homes
2-4 Units
5+ Multi-unit
How long do I need to wait before I can access the equity in my property using the newly appraised value?
You don't need to wait to access up to 75% of the newly appraised value of the home!
Can I qualify for 80% of the appraised value for a cash out refinance?
Yes, If...
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The property is a single family, duplex, triplex or quadruplex
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Your FICO score is >720
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You own two or more rental properties for 24 months
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The property has a DSCR of >1.35
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Minimum loan amount $100K
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6 Months of seasoning
2nd Position Lien
$50K TO $400K
Want to get cash out of your property but don't want to lose your great rate on your current mortgage? Now you don't have to! We are offering 2nd position liens so you can access the equity in your property without fully refinancing the original mortgage. Must be seasoned for six months.
Refinance An Owner or Non-Owner Occupied Commercial Property
Starting at $100K
Must Be 70% occupied
or owner occupied
5+ Multi-family
Mixed-use
Automotive / auto repair
Hair salon / barbershop
Car wash
Laundromat
Medical / dental office
Self-storage
Restaurant | bar | nightclub
Retail store
Gas Station | convenience store
And more!
What is the lowest credit score I can have to get cash out of my investment property?
You can access up to 50% of the equity with no credit score.
Now, while we have made the idea of accessing the equity in your investment property appear quite simple, there are certainly things that you as an investor need to consider.
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Will the current property appraise high enough to access additional cash?
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Is the current rental income enough to cover a higher mortgage payment at a DSCR >1.0
Rental Income
PITIA
DSCR =
Principal, Interest, Taxes, Insurance and Association Fees (If Applicable)