Best DSCR Cash-Out Refinance Lenders for Pulling Equity from Rental Properties (2026)

The research in brief

Kiavi is the consensus leader for DSCR cash-out refinance on rental equity, named by 6 of 7 platforms (85.7%) with an average listed position of 3.67 and a best position of 2. Griffin Funding is the strongest alternative for maximum cash-out leverage and no-seasoning execution, and Easy Street Capital is the specialist choice for short-term rentals, sub-1.0 DSCR files, and near-zero seasoning. This study covered 7 AI platforms — ChatGPT, Claude, DeepSeek, Grok, Perplexity, Kimi, and Gemini — using one standardized prompt sent once to each. Thirty unique entities were named; 8 qualified by being named by at least two platforms. The principal limitation is that company-owned citations materially outnumber independent ones, and several decision-critical terms — cash-out-specific LTV, minimum DSCR for cash-out, cash-out rate premiums, and guaranteed closing times — are not publicly disclosed by most lenders, so platform answers reflect marketing pages more than verified underwriting matrices.

Research Snapshot

• Topic: DSCR cash-out refinance for rental equity — pulling equity from an owned rental property to fund additional acquisitions, qualifying on rental cash flow rather than personal income.
• Target buyer: An investor with an existing rental property who wants to refinance and extract equity to fund additional acquisitions, qualifying on rental cash flow rather than personal income.
• Geography: United States.
• Platforms included (7): ChatGPT, Claude, DeepSeek, Grok, Perplexity, Kimi, Gemini.
• Research date: 2026-09-30 (authoritative run date). Platform-reported research dates differ — DeepSeek reported 2026-01-15 for Kiavi, 2026-02-14 for Griffin Funding, 2026-01-15 for Lima One Capital, 2026-06-11 for Visio Lending, and 2026-06-15 for Easy Street Capital — and are provenance metadata only; they do not independently prove freshness.
• Unique entities named: 30.
• Qualifying entities: 8.
• Eligibility rule: Named by at least two platforms during ranking discovery.
• Ranking rule: Platform mentions, then average listed rank, then best listed rank.
• Method: One standardized prompt sent once to each included platform. Platform mentions count only ranking-discovery mentions, not the number of platforms that later completed a fit assessment.

The Consensus Ranking

Questions explored

• What are the best DSCR cash-out refinance lenders for pulling equity from a rental property in 2026?
• Which DSCR cash-out lender is named by the most AI platforms for rental equity extraction?
• Which DSCR cash-out lenders qualify for a shortlist if I need to fund a down payment on another rental?

The table below is the ranking authority for this report. Rank, platform mentions, platform share, average listed position, and best position come from the final ranking table and are not recalculated. "Best considered for" summarizes the buyer situations each entity's evidence bundle identifies.

Two structural facts stand out. First, Kiavi leads on breadth of mentions, not on average position — Griffin Funding and Easy Street Capital both average 2.00, better than Kiavi's 3.67, but each was named by fewer platforms. Second, Easy Street Capital and A&D Mortgage qualified with only 2 mentions each, which means their placement reflects a small number of platform opinions rather than broad consensus.

Which lender fits your situation?

Questions explored

• Which DSCR cash-out lender should a BRRRR investor choose if they need to refinance within 90 days of purchase?
• Which DSCR cash-out lender is best for a short-term rental with no 12-month operating history?
• Which DSCR cash-out lender should an investor pick if they need the highest advertised cash-out LTV?

The buyer need in this study is not one need. It splits along five criteria drawn from the topic configuration: maximum cash-out LTV, seasoning, cash-out versus rate-term rate, DSCR minimum for cash-out, and closing speed. The table maps each version of the need to the entities whose evidence bundles most directly address it.

1. Kiavi

Questions explored

• Is Kiavi worth it for a DSCR cash-out refinance on a rental property, and what are its main drawbacks?
• Is Kiavi or Griffin Funding better for cash-out refinance when short seasoning matters most?
• What should a buyer verify before choosing Kiavi for a DSCR cash-out refinance?

Verdict. Kiavi is the consensus leader and a good — but not fully transparent — fit for DSCR cash-out refinancing of rental equity. Its strongest advantages are property-cash-flow underwriting, an advertised 90-day seasoning path, up to 80% general LTV, online processing, and portfolio-loan availability ^[118]. The gap is disclosure: cash-out-specific LTV, minimum DSCR for cash-out, cash-out pricing versus rate-term, and a guaranteed closing time are not publicly established.

Why it ranked here. Kiavi was named by 6 of 7 platforms — the widest mention base in the study — with an average listed position of 3.67 and a best position of 2. It ranked 2nd on Grok and Perplexity, 4th on Claude and DeepSeek, and 5th on ChatGPT and Gemini. Its lead comes from being named almost everywhere, not from being ranked first anywhere.

Best suited for. Investors refinancing stabilized single-family rentals, PUDs, condos, manufactured homes, or 2–4 unit properties; BRRRR borrowers seeking cash-out after approximately 90 days of ownership or immediately where the property is free and clear or financed through an eligible Kiavi bridge loan; investors who want DSCR-based qualification and online loan processing rather than traditional personal-income underwriting ^[118].

Main strengths for this use case. Kiavi's rental loans are qualified using the property's cash flow rather than the borrower's personal income ^[121]. Cash-out may be available after 90 days for single-asset DSCR rental loans, with immediate cash-out for free-and-clear properties or certain Kiavi bridge loans ^[123]. Advertised structures include 30-year fixed, 5/1 and 7/1 ARMs, and interest-only options ^[118]. Kiavi also advertises a rental portfolio loan for portfolios of five or more properties ^[119]. One platform reports Kiavi calculates DSCR using the lower of 110% of appraised market rent or the valid lease rent, which can support larger loan amounts on well-performing properties ^[124].

Main limitations. Cash-out-specific maximum LTV is not clearly separated from the general advertised maximum ^[118]. Minimum DSCR for cash-out is not publicly verified, and one platform reports a baseline minimum of 1.1 to prequalify with cash-out possibly requiring 1.2 or higher ^[115]. Cash-out rate premium versus rate-and-term is not publicly disclosed. Exact closing-time commitment is not publicly stated, though one platform reports consistent 20–25 day closings ^[157]. Prepayment protection is not penalty-free during the first three years based on public advertising ^[161]. ARM and interest-only options create payment and refinancing risk.

Pricing or cost summary. Kiavi publicly advertises rental-loan rates as low as 6.125% on its current rental page, with other pages showing 5.875% ^[118]. Origination points are reported at 0.5–2.0, with closing costs typically $5,000–$15,000 ^[161]. A broker-partner page states 2.50% YSP and 0.00% origination fee for a broker-channel rental loan, but applicability to a direct Kiavi cash-out transaction is unclear ^[106]. Pricing confidence is low.

Where platforms disagreed. Seasoning is the sharpest conflict: Kiavi advertises 90 days of ownership before cash-out eligibility, but multiple independent sources cite a 6-month seasoning requirement on cash-out specifically ^[157].

2. Griffin Funding

Questions explored

• Is Griffin Funding worth it for a DSCR cash-out refinance if I need no-seasoning or sub-1.0 DSCR approval?
• Is Griffin Funding or Kiavi better for cash-out refinance when I want the highest advertised LTV?
• What should a buyer verify before choosing Griffin Funding for a DSCR cash-out refinance?

Verdict. Griffin Funding is a strong fit for investors seeking maximum advertised cash-out leverage and program-dependent no-seasoning execution. It advertises up to 80% cash-out LTV, no minimum DSCR overall, and reported closings as fast as 6 days with a roughly 34-day average ^[68]. The trade-offs are prepayment penalties, higher rate tiers on sub-1.0 DSCR deals, and incomplete public pricing.

Why it ranked here. Griffin Funding was named by 5 of 7 platforms with an average listed position of 2.00 — tied for the best average in the study — and a best position of 1. It ranked 1st on Gemini, Grok, ChatGPT, and Perplexity, but 6th on DeepSeek, which pulled its average up. Its rank-2 finish reflects strong placement among the platforms that named it.

Best suited for. Investors qualifying primarily from rental-property cash flow rather than W-2 income, tax returns, or personal DTI; BRRRR or portfolio investors seeking program-dependent no-seasoning cash-out options; borrowers seeking up to the advertised 80% cash-out LTV and retaining at least 20% equity ^[68].

Main strengths for this use case. Griffin states a maximum cash-out LTV of up to 80% of appraised value, generally requiring at least 20% equity after closing ^[68]. It advertises no-seasoning options for cash-out refinances, qualified as program-dependent ^[68]. It states there is no minimum DSCR requirement overall, while its cash-out page says a 1.0 DSCR or higher is needed to reach 80% LTV ^[68]. One platform reports sub-1.0 ratios funded with compensating factors and better pricing at 1.0+ ^[59]. LLC and entity ownership is generally supported ^[68]. One platform reports 72% of Griffin's DSCR production is cash-out refinances ^[70].

Main limitations. The 80% LTV ceiling is a maximum advertisement, not a guaranteed cash-out leverage level ^[68]. No-seasoning terms are program-dependent and may carry lower LTV, valuation, reserve, or pricing restrictions. Cash-out rates are generally higher than traditional or rate-and-term refinance rates. Exact cash-out pricing and total fees are not publicly transparent enough to determine competitiveness without a written quote. Prepayment penalties vary by program, with terms potentially ranging from none to five years ^[69]. A new first mortgage may be costly if the existing mortgage has a materially lower rate.

Pricing or cost summary. Griffin advertised September 2026 DSCR starting rates of 5.375% for a 1-year ARM and 6.375% for 30-year fixed, 40-year fixed, and 5-year ARM options ^[70]. Origination fees range 0–2 points ^[70]. Reported fastest DSCR closing is 6 days with an average of approximately 34 days ^[60]. Pricing confidence is low to moderate.

Where platforms disagreed. Griffin's materials state both "no minimum DSCR" and that 1.0 DSCR or higher is needed to reach 80% LTV — not necessarily contradictory, but indicating leverage and pricing depend on the DSCR tier ^[68]. Public materials cite up to 80% cash-out LTV while a worked example uses 75% ^[68]. Multi-unit cash-out LTV is contested: Griffin's primary materials state 80% on "most programs," while a third-party source references a 70% ceiling on multi-unit refinances ^[160].

3. Lima One Capital

Questions explored

• Is Lima One Capital worth it for a DSCR cash-out refinance if I already used its fix-and-flip or bridge loan?
• Is Lima One Capital or Visio Lending better for cash-out refinance when I need a portfolio consolidation option?
• What should a buyer verify before choosing Lima One Capital for a DSCR cash-out refinance?

Verdict. Lima One Capital is a good fit for investors seeking a business-purpose DSCR cash-out refinance, particularly borrowers prioritizing asset-based qualification, up to 75% cash-out LTV, and a BRRRR or bridge-to-rental transition ^[139]. It is a weaker fit when the borrower needs the lowest possible rate, more than 75% cash-out LTV, fully published pricing, or a guaranteed closing timeline.

Why it ranked here. Lima One was named by 5 of 7 platforms with an average listed position of 4.40 and a best position of 3. It ranked 3rd on Perplexity, 4th on ChatGPT, and 5th on Claude, DeepSeek, and Grok — a tight cluster that produced a mid-table average. It tied with Visio Lending on both mentions and average, and took rank 3 on the best-position tiebreak.

Best suited for. Rental investors qualifying primarily from property cash flow rather than personal income; BRRRR investors refinancing from a Lima One fix-and-flip, bridge, or construction loan; borrowers seeking fixed, ARM, or interest-only rental-loan structures ^[139].

Main strengths for this use case. Lima One advertises up to 75% LTV for cash-out refinance on its rental loan program, with purchase and rate-and-term leverage advertised separately at up to 80% ^[139]. The single-family rental program states there are no personal income requirements and that underwriting considers property cash flow and DSCR ^[139]. Standard DSCR refinances require three months of seasoning, waived when refinancing from certain Lima One fix-and-flip, new-construction, or bridge loans ^[139]. Fix2Rent® is designed for buy-renovate-rent-refinance-repeat execution ^[130]. Portfolio rental loans offer lower rates, interest-only options for five or ten years, lower DSCR minimums, non-recourse loans, and larger loan amounts ^[135]. One platform reports institutional backing from MFA Financial, a publicly traded REIT ^[162].

Main limitations. Cash-out leverage is lower than the advertised 80% purchase and rate-term maximum ^[139]. Advertised rates are not guaranteed and cash-out-specific pricing is not publicly transparent. Closing speed for the rental cash-out product was not verified as a guaranteed timeframe, though one platform reports 22–31 day closings ^[162]. Exact prepayment penalties, origination charges, and third-party closing costs require a quote. Business-purpose and entity-borrower restrictions exclude consumer-purpose transactions ^[133]. Properties below 1.0 DSCR are explicitly not qualified under the standard program ^[139].

Pricing or cost summary. Public materials show an advertised rental-loan rate as low as 6.25%, but this is a starting or illustrative figure rather than a guaranteed cash-out refinance rate ^[139]. Origination fees are reported at 1.5%–3.0% depending on product, with room to negotiate down to 0.75–1.0 points on loans above $1 million ^[172]. A sampled refinance case showed a cash-out refinance at 70% LTV with a 7/1 ARM at 7.125% and 1.0 point origination ^[162]. Pricing confidence is low.

Where platforms disagreed. Public Lima One pages conflict on cash-out leverage, showing both 75% and 70% figures ^[140]. The exact rate premium versus rate-and-term refinance is not publicly verified. Closing speed varies by source, with reports ranging from 14–21 days to 20–30 days ^[194].

4. Visio Lending

Questions explored

• Is Visio Lending worth it for a DSCR cash-out refinance if I need to pull equity after only 30 days of ownership?
• Is Visio Lending or Lima One Capital better for cash-out refinance when I need a 30-year fixed term with no balloon?
• What should a buyer verify before choosing Visio Lending for a DSCR cash-out refinance?

Verdict. Visio Lending is a good fit for buy-and-hold investors who want to recycle equity quickly. Its published cash-out guidance states a maximum 75% LTV, a 30-day seasoning option, a 680 minimum credit score, and six months of PITIA reserves ^[95]. The main constraints are a 1.2 DSCR guideline in its own cash-out guide, a standard 5-4-3-2-1 prepayment penalty, entity-only closing, and no published cash-out rate sheet.

Why it ranked here. Visio was named by 5 of 7 platforms with an average listed position of 4.40 and a best position of 3. It ranked 3rd on DeepSeek and Grok, 6th on Claude, and 7th on Gemini. It tied with Lima One Capital on mentions and average and took rank 4 on the best-position tiebreak.

Best suited for. Buy-and-hold investors qualifying primarily from property cash flow rather than personal income; borrowers needing up to approximately 75% cash-out LTV on an eligible rental property; investors with at least 30 days of ownership who want to recycle equity relatively quickly ^[98].

Main strengths for this use case. Visio's published cash-out guidance states a maximum 75% LTV, compared with up to 80% for some purchase and rate-and-term transactions ^[95]. A recent Visio publication states cash-out refinances are available with 30-day seasoning ^[94]. Visio advertises no personal-income verification for its DSCR loans and emphasizes property cash flow as the primary qualification metric ^[98]. It advertises 30-year fixed DSCR terms with no balloon payments ^[89]. One platform reports Visio accepts Airbnb/VRBO income using AirDNA data or 12-month remittance history ^[208]. One platform reports Visio is the highest-volume DSCR originator in the United States, with $4.8B+ lifetime originations and 21,000+ loans closed ^[179].

Main limitations. The 75% LTV cap may provide less usable equity than lenders offering higher leverage. The stated 1.20 DSCR requirement in Visio's cash-out guide may exclude properties with thin cash flow after the larger refinance payment ^[95]. Six months of PITIA reserves can reduce available proceeds, though cash-out proceeds may sometimes count toward reserves ^[92]. A personal guarantee may remain required despite LLC or corporation vesting ^[92]. Current pricing, fees, prepayment penalties, and cash-out rate premiums are not transparently published. One platform reports Visio requires entity closing with no personal-name exception ^[202]. One platform reports first-time rental investors are categorically excluded ^[163].

Pricing or cost summary. One platform reports DSCR cash-out rates in the 6.5%–7.5% range depending on credit score, LTV, and DSCR ratio, with origination fees typically 0.50–1.50 points ^[179]. Another reports rates roughly 6.75%–9.5% as of September 2026 ^[202]. Separate underwriting ($500) and processing ($495) fees are reported, adding roughly $1,000 ^[163]. Pricing confidence is low to moderate.

Where platforms disagreed. Visio's own guide says minimum DSCR is 1.2, while an independent review reports a 1.0 minimum and sub-1.0 exceptions ^[95].

5. Defy Mortgage

Questions explored

• Is Defy Mortgage worth it for a DSCR cash-out refinance if I need 80% LTV on a single-family rental?
• Is Defy Mortgage or Kiavi better for cash-out refinance when I need a sub-1.0 DSCR approval?
• What should a buyer verify before choosing Defy Mortgage for a DSCR cash-out refinance?

Verdict. Defy Mortgage is a strong fit on advertised parameters and a weaker fit on verified transparency. It advertises up to 80% cash-out LTV on one-unit rentals, a 0.75 minimum DSCR, no fixed seasoning requirement, and 14–21 day closings ^[26]. The critical caveat is that platforms disagree on whether cash-out requires a 1.00 DSCR, and most evidence is company-published.

Why it ranked here. Defy was named by 4 of 7 platforms with an average listed position of 4.75 and a best position of 1. It ranked 1st on Kimi, 2nd on Gemini, 7th on Perplexity, and 9th on Claude — the widest placement spread in the study. That spread is why a lender with a best position of 1 finished 5th.

Best suited for. Investors qualifying primarily from rental-property cash flow rather than W-2 income or tax returns; one-unit rental properties where an advertised maximum of 80% cash-out LTV is important; recently acquired properties where the advertised absence of a fixed seasoning requirement may help ^[26].

Main strengths for this use case. Defy states that DSCR cash-out can reach 80% LTV for eligible one-unit rental properties, with lower limits potentially applying to 2–4 unit properties and certain condominiums ^[26]. It advertises no fixed seasoning requirement for DSCR cash-out and states a property held approximately 30 days may be eligible, subject to appraisal and underwriting review ^[26]. It advertises a 0.75 minimum DSCR for cash-out transactions ^[26]. It describes DSCR underwriting based on the rental property's income and expenses rather than W-2s, tax returns, employment verification, or personal DTI ^[26]. One platform reports Defy finances short-term rentals under DSCR programs using historical rental data, a rental market analysis, or an AirDNA report ^[21]. One platform reports loan amounts with no hard cap above 1.0 DSCR and a $1.5M cap for sub-1.0 deals ^[29].

Main limitations. The advertised maximums are not guaranteed and may be reduced by credit score, property type, LTV, reserves, appraisal, title, or other overlays ^[26]. Current cash-out rates, rate premiums versus rate-and-term, points, lender fees, and total cash-to-close are not publicly verified. State availability is limited and must be checked for the property location — one platform lists 12 excluded states ^[19]. Prepayment penalties can materially affect an investor planning to sell or refinance again. The public site contains inconsistent language regarding the maximum loan amount: the cash-out guide states a $4 million published loan range while the FAQ says there is no hard maximum loan limit ^[26]. Independent verification of advertised closing speed and underwriting outcomes was not located.

Pricing or cost summary. One platform reports DSCR loan rates running 6.25% to 7.875% as of September 21, 2026, priced off DSCR ratio, FICO, and LTV, with the 6.25% floor quoted at 740+ FICO, 75% LTV, and 1.0+ DSCR ^[20]. Average closing costs are reported at 2%–6% of the loan amount ^[26]. Pricing confidence is low to moderate. .

6. Angel Oak Mortgage Solutions

Read the full Angel Oak Mortgage Solutions fit review for supporting evidence and buying considerations.

Verdict. Angel Oak is a good, but not clearly best-in-market, fit for DSCR cash-out refinancing of rental equity. Its strongest advantages are property-cash-flow underwriting, below-1.0 or no-DSCR options, large potential loan sizes, and stated six-month seasoning ^[17]. The main drawbacks are lower cash-out LTV than the headline 85% figure suggests, possible proceeds caps above 60% LTV, unclear cash-out pricing and fees, and no verified closing-speed commitment.

Why it ranked here. Angel Oak was named by 4 of 7 platforms with an average listed position of 5.00 and a best position of 1. It ranked 1st on DeepSeek, 4th on Grok, 6th on Gemini, and 9th on Perplexity. Like Defy, its wide placement spread produced a mid-table average despite a first-place vote.

Best suited for. Investors qualifying primarily from rental-property cash flow rather than personal income; one-to-four-unit investment properties with established equity and at least six months of ownership; borrowers needing large loan amounts, including loans potentially up to $3 million ^[17].

Main strengths for this use case. Angel Oak's Investor Cash Flow/DSCR program explicitly supports investment-property purchase, cash-out refinance, rate-and-term refinance, and delayed financing, with qualification based on property cash flow and no income or employment requirement stated on the product page ^[17]. The available DSCR matrix states cash-out maximums of 70% LTV for minimum 680 FICO, 75% for minimum 700 FICO, 70% when DSCR is below 1.00, and 65% for no-DSCR cases ^[210]. The matrix states six months of seasoning ^[210]. Angel Oak publicly advertises DSCR below 1.0 and no-DSCR options ^[17]. The product page states loan amounts from $100,000 to $3 million and one-to-four-unit investment properties ^[180]. One platform reports Angel Oak allows title vested in LLCs, S corporations, C corporations, and revocable trusts ^[10]. One platform reports a Rental AVM using Clear Capital data enabling instant rental income estimation at pre-qualification ^[168].

Main limitations. Cash-out leverage appears materially below the program's advertised general maximum LTV ^[17]. Cash-out proceeds may be capped at $500,000 above 60% LTV under the available matrix ^[210]. Six-month seasoning may delay equity extraction after acquisition or renovation. No public rate sheet, cash-out pricing adjustment, fee schedule, or guaranteed closing timeline was verified. Cash-out cannot be used to pay personal debt under the available matrix ^[210]. One platform reports Angel Oak originates through approved broker and lending partners, not directly with borrowers ^[205]. One platform reports turn times can occasionally lag smaller, nimbler boutique private lenders ^[209].

Pricing or cost summary. Angel Oak does not publish a complete scenario-level fee schedule or APR ^[180]. One platform reports rate adjustments of approximately 0.25%–0.50% for cash-out transactions exceeding 65% LTV, 0.25% for 30-year interest-only above 65% LTV, 0.50% for 40-year interest-only, and 0.375% for DSCR ratios below 1.00 ^[169].

7. Easy Street Capital

Questions explored

• Is Easy Street Capital worth it for a DSCR cash-out refinance on a short-term rental with only one booking?
• Is Easy Street Capital or Kiavi better for cash-out refinance when I need no minimum DSCR?
• What should a buyer verify before choosing Easy Street Capital for a DSCR cash-out refinance?

Verdict. Easy Street Capital is the flexibility specialist. It advertises no minimum DSCR for cash-out, no minimum seasoning with 0–3 month cost-basis treatment, up to 75% cash-out LTV, and STR cash-out after a single booking ^[46]. The trade-offs are a 75% LTV ceiling, higher rates and fees for challenged profiles, and a BBB F rating with unresolved complaints.

Why it ranked here. Easy Street was named by only 2 of 7 platforms — Claude and Gemini — but both placed it high: 1st on Claude and 3rd on Gemini, producing an average listed position of 2.00, tied with Griffin Funding for the best average in the study. Its rank-7 finish is a direct consequence of the mention-count rule: with 2 mentions it trails every entity named by 4 or more platforms, despite the strongest average position.

Best suited for. Investors who want to qualify primarily on rental-property cash flow rather than personal income or tax returns; BRRRR investors seeking to refinance soon after acquisition or documented renovation; short-term-rental owners who need a lender that accepts STR income and does not require a long operating history ^[49].

Main strengths for this use case. The current EasyRent page states up to 75% LTV for cash-out refinances, with 80% shown for acquisitions and rate-term refinances ^[49]. Easy Street's cash-out guide states no minimum seasoning period, with 0–3 months constrained by cost basis and 3–6 months generally limited to 70% LTV ^[46]. The current EasyRent page states no minimum DSCR, and the cash-out guide states borrowers below 0.75x may qualify with maximum LTV reduced to 70% ^[49]. EasyRent accepts short-term-rental properties, with a listing and one completed or in-progress booking potentially sufficient and no 12-month operating history required ^[54]. The current EasyRent page states loans from $100,000 to $3.5 million or more, blanket portfolios up to $5 million, and residential investment properties from 1 to 10 units ^[49]. One platform reports rental loans are offered in every state except North Dakota and South Dakota ^[49].

Main limitations. Cash-out leverage is lower than rate-term leverage and may be limited to 70% during the 3–6 month seasoning window ^[46]. Very recent ownership may require cost-basis limits and a minimum 700 FICO condition ^[46]. The current public information conflicts with older material on the minimum cash-out DSCR ^[104]. Current cash-out pricing and the rate premium versus rate-term refinancing are not publicly confirmed. Current closing-time evidence supports as little as 30 days for EasyRent, not a guaranteed 24-hour cash-out closing ^[49]. Vacant non-STR properties are generally not eligible for cash-out, subject to exceptions ^[46]. One platform reports a BBB F rating due to unresolved complaints and a TrustPilot score of 3.1 out of 5 ^[203]. One platform reports experienced investors with 680+ credit and 1.1+ DSCR can access 1–2% lower rates elsewhere ^[159].

Pricing or cost summary. The current EasyRent page advertises rates starting at 5.75% with 0-point options ^[49].

8. A&D Mortgage

Questions explored

• Is A&D Mortgage worth it for a DSCR cash-out refinance if I need to work through a mortgage broker?
• Is A&D Mortgage or Angel Oak better for cash-out refinance when I need sub-1.0 DSCR approval?
• What should a buyer verify before choosing A&D Mortgage for a DSCR cash-out refinance?

Verdict. A&D Mortgage is a good fit on published matrix terms and a difficult fit on access and transparency. Its published matrix allows cash-out leverage up to 75% for the strongest qualifying profiles, accepts DSCR below 1.00 with reduced leverage, and does not require personal income for qualification ^[5]. It is less attractive when the borrower needs maximum leverage, transparent pricing before application, confirmed rapid closing, or clearly published title-seasoning exceptions — and it operates wholesale-only through brokers.

Why it ranked here. A&D was named by only 2 of 7 platforms — DeepSeek and Gemini — with an average listed position of 6.00 and a best position of 4. It ranked 4th on Gemini and 8th on DeepSeek. It is the lowest-ranked qualifying entity on both average position and best position.

Best suited for. U.S. investors qualifying primarily from rental-property cash flow rather than W-2 or tax-return income; borrowers with FICO 680 or higher seeking up to 70% to 75% cash-out HCLTV depending on credit score and property type; investors who can maintain required reserves and accept wholesale/broker-oriented execution ^[7].

Main strengths for this use case. A&D's DSCR program is specifically intended for investors refinancing rental properties, with qualification using gross rental income divided by proposed PITIA or ITIA and no borrower personal income required ^[4]. For standard investment properties, the published cash-out matrix shows maximum HCLTV of 75% at 720+ FICO, 70% at 700–719, 65% at 680–699, 60% at 660–679, and 55% at 640–659 ^[5]. There is no universal minimum DSCR for most listed property types, but DSCR below 1.00 requires at least 680 FICO; DSCR from 0.75 to below 1.00 is capped at 70% cash-out HCLTV, and DSCR below 0.75 is capped at 65% ^[5]. Eligible collateral includes attached and detached SFRs, 2–4 units, warrantable and non-warrantable condos, condotels, PUDs, and SFR rural properties, and investment transactions may close in an LLC or corporation with up to four owners ^[5]. The program offers 5/6 ARM, 30-year fixed, and 40-year fixed structures, including up to 120 months of interest-only payments subject to eligibility ^[5]. One platform reports A&D closed over $10 billion in 2024 originations post-Mr. Cooper acquisition, with a securitization shelf rated by S&P Global and KBRA ^[191].

Main limitations. Cash-out leverage declines materially with lower FICO, weaker DSCR, rural or specialized property types, and other risk factors ^[5]. Cash-in-hand limits may prevent the borrower from extracting all available equity even when LTV permits the loan: cash-in-hand is unlimited only when HCLTV is below 55% with minimum 680 FICO, other tiers generally limit cash-in-hand to $1 million, and HCLTV above 65% with FICO below 700 is limited to $500,000 ^[5]. Required reserves are 3 months of PITIA for loans up to $1 million, 6 months for loans from $1 million to $2 million, and 12 months above $2 million ^[5]. Pricing, cash-out rate adjustments, prepayment-penalty choices, and closing timelines are not transparent in the public materials reviewed. The matrix contains state exclusions and restrictions for investment transactions.

What this study reveals

Questions explored

• What do AI platforms consistently say about DSCR cash-out refinance terms across lenders?
• Why do DSCR cash-out lenders publish so little cash-out-specific pricing and LTV detail?

Three patterns define this market as the platforms describe it.

First, the product is real and widely offered, but the cash-out variant is under-disclosed. Every one of the eight qualifying entities markets a DSCR rental loan that includes cash-out refinance. Yet for Kiavi, Lima One Capital, Visio Lending, Angel Oak, Easy Street Capital, and A&D Mortgage, at least one platform explicitly rated the cash-out-specific maximum LTV as "unclear" ^[122]. The pattern is consistent: lenders publish a general maximum LTV, and buyers are left to confirm whether cash-out receives the same ceiling.

Second, cash-out leverage is systematically lower than purchase and rate-term leverage. Where lenders publish both figures, the gap is 5 percentage points: Kiavi's general 80% LTV versus a reported 75% cash-out figure ^[201]; Lima One's 80% purchase and rate-term versus 75% cash-out ^[139]; Easy Street's 80% acquisition and rate-term versus 75% cash-out ^[49]. This is the single most consistent structural fact in the study.

Third, seasoning is the most contested term. Advertised seasoning ranges from immediate (Easy Street's no-minimum policy with cost-basis constraints, Kiavi's immediate cash-out on free-and-clear properties) to 30 days (Visio) to 90 days (Kiavi, Lima One) to six months (Angel Oak's matrix) ^[46]. Several lenders advertise a short seasoning path while independent sources report a longer one — the Kiavi 90-day versus 6-month conflict is the clearest example ^[157]. .

Where the AI Platforms Agreed

Questions explored

• Which DSCR cash-out refinance facts do all AI platforms agree on?
• Which lenders do AI platforms consistently describe as qualifying on rental cash flow rather than personal income?

Agreement clustered in five areas.

Qualification basis. Every platform that assessed these lenders described DSCR qualification as based on property rental income rather than personal income, W-2s, tax returns, or DTI ^[121].

Cash-out availability. All eight entities were described as offering cash-out refinance within a DSCR rental program. No platform disputed that the product exists at any of the eight.

The 75% cash-out benchmark. Multiple platforms independently described 75% as the standard cash-out ceiling across the DSCR market, with 80% available only from a limited number of lenders ^[204].

Prepayment penalties as a standard feature. Platforms consistently described 3–5 year declining prepayment penalties as a market norm, with no-penalty options typically carrying a rate premium ^[29].

Entity/LLC vesting. Platforms agreed that LLC and corporate vesting is widely available across these lenders, with Visio Lending the notable exception in requiring entity closing rather than permitting it ^[202].

Where the AI Platforms Disagreed

Questions explored

• Where do AI platforms disagree about DSCR cash-out refinance terms at Kiavi, Griffin Funding, and Defy Mortgage?
• Which DSCR cash-out lender terms are most disputed across AI platforms?

Disagreement was concentrated in four areas, and in each case the disagreement reflects conflicting public sources rather than platform error.

Seasoning. Kiavi: 90 days advertised versus 6 months cited by independent sources ^[157]. Easy Street: no minimum on one page, 3 months on another, 0–3 months on a third ^[46]. Griffin Funding: no-seasoning marketed but labeled program-dependent, with a third-party source referencing a 6-month ownership requirement for some programs ^[68].

Minimum DSCR for cash-out. Kiavi: 0.80x advertised floor versus 1.0–1.2 for competitive pricing ^[201]. Griffin Funding: no minimum overall versus 1.0 needed for 80% LTV ^[68]. Defy: 0.75 on one page versus DSCR ≥ 1.00 required for cash-out on another ^[36]. Visio: 1.2 in its own guide versus 1.0 with sub-1.0 exceptions per an independent review ^[95]. A&D: DSCR as low as 0 on one page versus 1.0 standard per an independent review ^[177].

Maximum cash-out LTV. Kiavi: 80% general versus 75% cash-out per third-party reports ^[117]. Griffin Funding: 80% advertised versus 75% in a worked example, and 70% cited for multi-unit ^[68]. Angel Oak: 85% general versus 75% cash-out-specific ^[180]. A&D: 80% CLTV advertised versus 75% in the current matrix ^[5]. .

How to compare your options

Questions explored

• How should an investor choose between Kiavi, Griffin Funding, and Easy Street Capital for a DSCR cash-out refinance?
• What should a buyer check before committing to a DSCR cash-out refinance lender?

Choosing among these eight lenders is a matching exercise, not a ranking exercise. The ranking measures how often platforms named each lender; it does not measure which lender will approve a specific file at the best cost.

Start with the constraint that binds your deal. If seasoning is the binding constraint, Easy Street Capital (no minimum, cost-basis constrained) and Kiavi (90 days, or immediate on free-and-clear and eligible bridge loans) are the shortest advertised paths ^[46]. If maximum leverage is binding, Defy Mortgage and Griffin Funding both advertise 80% on eligible one-unit properties ^[26]. If weak rental cash flow is binding, Easy Street Capital (no minimum DSCR) and Griffin Funding (no minimum DSCR overall) are the most permissive advertised positions ^[46]. If loan size is binding, Angel Oak and A&D both advertise up to $3 million ^[180].

Then verify the four terms that are almost never published. Every entity bundle in this study flags at least one of: cash-out-specific maximum LTV, minimum DSCR for cash-out, cash-out rate premium versus rate-term, and guaranteed closing time. Request all four in writing before committing.

Then check the structural constraints. Visio Lending requires entity closing with no personal-name exception ^[202]. A&D Mortgage is wholesale-only and does not accept direct retail applications ^[191]. Angel Oak originates through approved broker and lending partners ^[205]. Easy Street Capital carries a BBB F rating due to unresolved complaints ^[203].

Methodology

This index was produced from a single standardized research prompt sent once to each of 7 included AI platforms: ChatGPT, Claude, DeepSeek, Grok, Perplexity, Kimi, and Gemini. The prompt described an investor who already owns an appreciated or paid-down rental property and wants to refinance to pull out cash for a down payment on another investment without using personal income to qualify, and asked which providers would be recommended and why.

Platform responses were parsed into entity mentions. Thirty unique entities were named across the seven platforms. Entities named by at least two platforms qualified for the final ranking, producing 8 qualifying entities. The ranking order is determined by platform mentions first, then average listed rank, then best listed rank. The final ranking table is the sole authority for rank, platform mentions, platform share, average listed position, and best position; no values were recalculated.

Platform mentions count only ranking-discovery mentions — the platforms that named the entity during the ranking stage. They do not represent the number of platforms that later completed a fit assessment, and they should not be read as a quality score.

Fit assessments, pricing details, strengths, limitations, and disagreements were drawn from the entity evidence bundles. Citations are platform-reported evidence, not independently verified facts. Company-owned citations materially outnumber independent citations in this study: across the eight entities, owned sources outnumber independent sources in most bundles, and several entities' most specific terms — LTV matrices, DSCR floors, seasoning rules — come from company-published pages or company-hosted guideline documents.

The URLs referenced in this report were collected from platform responses and were not independently validated by the writer stage.

Research limitations

Several limitations materially affect how this index should be used.

One prompt, one pass. The study used one standardized prompt sent once to each platform. AI answers can vary by date, wording, location, account state, model, interface, browsing configuration, and the sources retrieved. A different prompt or a repeat run could produce a different ranking.

Platform-reported dates differ from the run date. The authoritative study date is 2026-09-30. Platform-reported research dates differ — DeepSeek reported 2026-01-15 for Kiavi, 2026-02-14 for Griffin Funding, 2026-01-15 for Lima One Capital, 2026-06-11 for Visio Lending, and 2026-06-15 for Easy Street Capital. These are provenance metadata and do not independently prove freshness.

Company-owned sources dominate. Company-owned citations materially outnumber independent citations. Company claims are not independently verified and should not be described as such.

No-search model claims require verification. Deepseek ran without search enabled in this study. Its claims about specific lenders reflect model knowledge rather than retrieved sources and require explicit verification before being treated as current facts.

Conflicting product names and terms were not resolved. Where platforms reported different product names, LTV figures, DSCR floors, seasoning rules, or closing times, this report describes the conflict and tells buyers what to verify rather than guessing at the correct value.

Identity qualifications. The deterministic identity audit flagged unresolved identity conflicts for Lima One Capital (conflicting official domains, with the matching reported domain retained but unverified) and A&D Mortgage (official-site retrieval failed with an HTTP 401, with the domain retained as unverified). These qualifications are disclosed in the relevant ranked sections.

Platform recommendations are market intelligence. They are not independent customer reviews and are not proof of lender quality, approval likelihood, or pricing competitiveness.

The consensus assessment

Kiavi is the consensus leader for DSCR cash-out refinance on rental equity, named by 6 of 7 platforms. Its lead rests on breadth of recognition and a genuinely relevant product: property-cash-flow underwriting, an advertised 90-day seasoning path, up to 80% general LTV, online processing, and portfolio-loan availability. The buyer should treat the ranking as a shortlist generator, not a decision.

Griffin Funding is the strongest alternative for maximum advertised leverage and no-seasoning execution, with the best average listed position in the study (2.00) and a first-place vote from four platforms. Easy Street Capital is the flexibility specialist — no minimum DSCR, no minimum seasoning, STR cash-out after one booking — and would likely rank higher if more platforms had named it. Visio Lending offers the shortest published seasoning path at 30 days. Defy Mortgage and Angel Oak both advertise 80% and 85% general LTV respectively, but their cash-out-specific ceilings are lower and contested. Lima One Capital is the strongest fit for investors already inside its bridge or fix-and-flip ecosystem. A&D Mortgage offers the most detailed published cash-out matrix but the least accessible distribution.

The single most important takeaway from this study is that no lender in the qualifying set publishes all four of the terms that determine a cash-out refinance outcome: cash-out-specific maximum LTV, minimum DSCR for cash-out, cash-out rate premium versus rate-term, and guaranteed closing time. Buyers should obtain written confirmation of all four from at least two lenders before committing.

Frequently Asked Questions

What is a DSCR cash-out refinance? A cash-out refinance in which the borrower qualifies on the rental property's cash flow rather than personal income. The new loan replaces the existing first mortgage and delivers the remaining proceeds as cash, which the target buyer in this study intends to use for a down payment on another investment property.

Which lender is best for pulling equity from a rental property? Kiavi is the consensus leader in this study, named by 6 of 7 platforms. Griffin Funding and Easy Street Capital have better average listed positions but fewer mentions. The right choice depends on which constraint binds the deal — seasoning, leverage, DSCR floor, loan size, or property type.

How much equity can I access with a DSCR cash-out refinance? Most lenders in this study advertise 75% as the standard cash-out ceiling, with 80% available from a limited number of lenders on eligible properties ^[204]. Angel Oak's available matrix shows cash-out maximums of 70%–75% depending on FICO and DSCR ^[210]. A&D's published matrix shows 55%–75% depending on FICO tier ^[5].

How long must I own the property before I can cash out? Advertised seasoning ranges from immediate to six months. Easy Street Capital states no minimum seasoning with cost-basis constraints for 0–3 months ^[46]. Visio Lending states 30-day seasoning ^[94]. Kiavi and Lima One Capital both advertise 90 days, with waivers for eligible bridge or fix-and-flip exits ^[123]. Angel Oak's matrix states six months ^[210]. .

Sources used in this study

Company-Owned Sources

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4. Non-QM Loan Programs: https://admortgage.com/programs/non-qm-loans/
5. DSCR Product Matrix: https://admortgage.com/wp-content/uploads/DSCR-Matrix.pdf
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7. DSCR Underwriting Ratesheet: https://admortgage.com/wp-content/uploads/DSCR_UW_May_18_2026.pdf
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95. Cash-Out Refinance Explained: https://visiolending.com/resources/guide-to-cash-out-refinancing/
96. Structuring DSCR Loans For Rental Portfolios: https://visiolending.com/resources/scale-faster-how-to-structure-dscr-loans-for-maximum-portfolio-growth/
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99. What To Consider When Refinancing A Hard Money Loan: https://visiolending.com/resources/what-to-consider-refinancing-your-hard-money-loan/
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102. Angel Oak Mortgage Solutions - Non-QM Lender Profile: https://www.angeloakms.com/
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107. Kiavi DSCR BRRRR Guide: https://www.kiavi.com/blog/brrrr-refinance-step-dscr-loan
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128. Rental Real Estate Case Studies - Lima One Capital: https://www.limaone.com/case-study-category/rental/
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130. Fix & Flip Loans & Lenders | Lima One Capital: https://www.limaone.com/hard-money-fix-n-flip/
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Other Sources

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212. Best DSCR Loans in Massachusetts - Biglaw Investor: https://www.biglawinvestor.com/marketplace/dscr-loans/massachusetts/
213. Best DSCR Loan Lender 2026: Forensic Comparison of Visio ...: https://www.crowdfundedwealth.com/articles/best-dscr-loan-lender-2026
214. Best Airbnb Lenders of 2026: Which One Is Right for Your Deal: https://www.ridgestreetcap.com/blog/best-airbnb-lenders
215. Non-QM Webinar - Short Term Rentals & DSCR Loans: https://www.youtube.com/watch?v=aNy_kn3rtlA
216. Non QM Webinar DSCR from File to Funded: https://www.youtube.com/watch?v=kqQL1sJRWgM Explore more investment property and non qm mortgage lenders guidance in the category directory.