The Highest Advertised Cash-Out LTV Is 80%, but Only on a Specific Program
Program 3 can reach up to 80% cash-out LTV for qualifying borrowers with at least 680 FICO in AL, CO, GA, ME, MI, MS, MO, NC, NH, PA, TN, TX, VA, and WA. Outside those states, Program 3 is generally capped at 75% LTV. Other programs solve different scenarios and have their own leverage limits.
Important:
The highest available LTV is a ceiling, not a guaranteed loan amount. DSCR, property type, appraisal, seasoning, loan size, state, and other overlays can reduce the final leverage.
Current Cash-Out LTV Paths
Program 1 and Program 3 Use Different ARV Rules
Program 3 is the completed-renovation no-seasoning option. Once rehab is complete, it can use the new ARV immediately. Program 1 can also use a new/current ARV, but generally only after at least 91 days of ownership. Before 91 days on Program 1, financing can still be possible using the original purchase/value basis instead of the new ARV.
Program 1 also has the smaller $50,000 minimum loan and $75,000 minimum property value, while Program 3 has a $75,000 minimum loan and $100,000 minimum property value. Those features should not be combined into one fictional program.
DSCR Can Reduce the Loan Below the LTV Ceiling
A property can satisfy the LTV cap and still size to a smaller loan if the rental income does not support the proposed payment. A qualifying option can go down to 0.75 DSCR, but that flexibility generally adds about 1.00% to 1.25% to the standard rate and should not be assumed to combine with every other program feature.
Property Type Can Also Reduce LTV
Rural properties can carry an LTV reduction. Condotels also have their own ceilings: warrantable condotels can be eligible up to 75% LTV and non-warrantable condotels up to 65% LTV. Mixed-use properties need at least 50% residential use. These property overlays can become the binding limit even when a borrower otherwise qualifies for a higher program tier.
Get the Maximum LTV for the Actual File
Send the state, value, rent, payoff, FICO range, property type, purchase date, and renovation status. We will size the program options that fit.
Get a Quote →The Bottom Line
The highest advertised DSCR cash-out LTV is 80% through Program 3 at 680+ FICO in the eligible states, but 75%, 70%, 60%, or 50% can be the correct maximum for another file. Read the 80% cash-out guide for the state-specific tier, or use the cash-out refinance hub to compare the full program structure.