Exit Your Hard Money Loan.Move Into Long-Term DSCR.Program-Specific Seasoning and ARV Rules.
- Exit bridge, hard-money, or adjustable-rate debt into long-term DSCR financing
- Before 91 days, leverage can be based on the original purchase/value basis
- Program 1 can use a new/current ARV after at least 91 days
- Program 3 can use new ARV immediately after completed renovation
No credit pull for the initial quote · Rates within 24 hours · Typical 28-day close with complete documentation
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Seasoning Matters
Which Value Can the Refinance Use?
Rate-and-term refinances are not governed by one blanket seasoning rule. The key question is whether the file is being sized from the original purchase/value basis or from a newer ARV after renovation or appreciation.
Before 91 Days
A refinance can still be possible, but leverage is based on the original purchase/value basis rather than a new ARV unless Program 3 applies.
Program 1 After 91 Days
Program 1 can use a new/current ARV after at least 91 days. Purchase price plus documented renovation budget must support the requested loan amount when the new ARV is being used.
Program 3 After Rehab
When renovation is complete, Program 3 can use the new ARV immediately with no ownership seasoning period. Program 3 requires 660+ FICO, a $75,000 minimum loan, and a $100,000 minimum property value.
Low-DSCR Option
A qualifying DSCR option can go down to 0.75. That flexibility generally adds about 1.00% to 1.25% to the standard rate, so it should be compared as a higher-cost option rather than a standard-price tier.
Illustrative Deal Example
Hard Money Exit: How Loan Sizing Changes
Assume you own a rental with an expensive hard-money loan and want to move into long-term DSCR financing. If the property has not met the seasoning required to use a new/current ARV under Program 1, the refinance can still be evaluated from the original purchase/value basis. If renovation is complete and the file qualifies for Program 3, the new ARV can be used immediately. The final loan amount depends on the selected capital partner, DSCR, FICO, property type, seasoning, and value basis.
Deal Snapshot
Before 91 Days
Original Basis
Program 1 New ARV
91+ Days
Program 3 After Rehab
Immediate ARV
Rate & Term Refinance FAQ
Rate & Term Situations
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