## Sell fast, sell for more

 

As we like to say, every day at OfferMarket is [Sell My House Fast Day](https://www.offermarket.us/blog/sell-my-house-fast-day) and [We Buy Houses Day](https://www.offermarket.us/blog/we-buy-houses-day). 

 

## How to find Real Estate buyers fast

 

If you need to sell your house fast, we want to be your go-to home sale platform. Let's meet a seller who received 14 offers for his house in Norcross, GA from OfferMarket's network of qualified buyers.

 

Jason wanted to sell his duplex Norcross, GA. The problem was that the property was in [poor condition](https://www.offermarket.us/guides/selling-a-house-in-poor-condition), with tenants that he didn't want to scare or inconvenience. It was clear to Jason that the best buyer for his house would either be a [fix and flip](https://www.offermarket.us/real-estate-glossary/fix-and-flip) or a rental property investor. 

 

Jason wanted to get the best possible offer but he didn't know what his property was worth given its condition. He didn't want to put the property on the MLS with an agent or risk buyers backing out or re-negotiating after their inspection of the property. He wanted to close the sale in under 30 days for the highest possible net proceeds and given his busy schedule he definitely didn't want to handle everything himself in a traditional [For Sale By Owner process](https://www.offermarket.us/guides/how-to-sell-a-house-by-owner). 

 

Jason carefully researched his options and found OfferMarket's [Sell My House Fast Norcross, GA](https://www.offermarket.us/sell-my-house-fast/norcross-ga) overview. He filled out our [Get Offers form](https://www.offermarket.us/sell) and let OfferMarket handle it from there. 

 

## Here are the stats from Jason's campaign:

 

- **Safe Showing:** 18 qualified buyers (photo ID, proof of funds)
- **Offers received:** 14
- **Winning offer:** cash, AS IS, no contingencies, close in 14 days
- **Close:** on-time

> When we decided to sell our investment property, we wanted to avoid expensive repairs and commissions. We found OfferMarket and decided to give their Get Offers service a try. In short order we received 14 offers and ultimately selected an AS IS cash offer with no contingencies that closed in under 2 weeks. We had a great experience and would absolutely recommend OfferMarket.

 

Every seller has a story to tell, read our [Google Reviews](https://www.google.com/search?q=offermarket) to see if selling your house fast with OfferMarket is right for you.

 

## Sell My House Fast: Get Offers with OfferMarket 👇

Every seller has a Sell My House Fast story to tell. Meet Jason, who received 14 offers and closed in under 2 weeks.

Sell my house fast seller success stories

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Sell My House Fast: Norcross, GA - OfferMarket Blog

Sell My House Fast Success Story: Jason From Norcross, GA

**Last updated:** April 15, 2024

 

There are many options when it comes to getting a fix and flip loan for your next 1 to 4 unit residential project. Whether your exit strategy is a flip (sale), or to rent and refinance into a DSCR loan, we are here to help you. 

 

OfferMarket has rebranded our fix and flip loan program in order to focus on serving rental property investors. We now call this our "Fix and Rent" loan program: a bundle of Fix and Flip loan + DSCR loan that provides industry-leading terms and discounts for Illinois rental property investors that buy, rehab, rent and refinance (BRRR) with OfferMarket. Get an [instant quote and pre-approval](https://www.offermarket.us/loans?ref=blog-fix-and-flip-loans-illinois).

 

1 to 4 unit residential properties in Illinois and Chicago are a great fit for fix and flip loans, which is otherwise referred to as "hard money" or "private money" or "bridge loan". If you have a distressed property you'd like to purchase and rehab, we have the capital and expertise to help you every step of the way.

 

We are currently advising our clients in Illinois to exercise caution when entering into new fix and flip loans. Use conservative estimates for ARV, protect your credit score. Fix and flip investors with an exit strategy to sell (flip), are strongly encouraged to underwrite for a rent and refinance exit strategy in case a sale is not a profitable or viable option.

 

Grow your real estate business with fast, reliable, competitively priced capital. Proudly serving real estate investors throughout Illinois and Chicagoland.

 

## Fix and Flip Loans Chicago

 

If you're buying distressed properties in Chicago, we can fund up to 100% of the purchase price and 100% of the rehab. Plan your next project confidently -- common sense underwriting and deal structuring to help you achieve your goal and manage risk.

 

## Illinois Fix and Flip Loan Program

 

Built for real estate investors who demand a better borrowing experience.

 

<div style="display: grid; grid-template-columns: repeat(1, minmax(0, 1fr)); overflow: auto; white-space: nowrap;">
<table>
<thead>
 <tr>
 <th>Fix and Flip</th>
 <th>Guidelines</th>
 </tr>
</thead>
<tbody>
 <tr>
 <td>Interest rate</td>
 <td><a href="https://www.offermarket.us/loans" target="_blank" rel="noopener noreferrer">Get quote</a></td>
 </tr>
 <tr>
 <td>Time to fund</td>
 <td>10 - 20 days</td>
 </tr>
 <tr>
 <td>Max loan to purchase price</td>
 <td>100%</td>
 </tr>
 <tr>
 <td>Max loan to rehab</td>
 <td>100%</td>
 </tr>
 <tr>
 <td>Max loan to ARV</td>
 <td>70%</td>
 </tr>
 <tr>
 <td>Term</td>
 <td>12 - 18 months</td>
 </tr>
 <tr>
 <td>Property type</td>
 <td>1 - 4 units, non-rural</td>
 </tr>
 <tr>
 <td>Minimum loan amount</td>
 <td>$50,000</td>
 </tr>
 <tr>
 <td>Minimum ARV</td>
 <td>$100,000</td>
 </tr>
 <tr>
 <td>Origination Fee</td>
 <td>2 points</td>
 </tr>
 <tr>
 <td>Interest type</td>
 <td><a href="https://www.offermarket.us/real-estate-glossary/dutch-interest" target="_blank" rel="noopener noreferrer">Full Boat or As Disbursed</a></td>
 </tr>
 <tr>
 <td>Draw type</td>
 <td><a href="https://www.offermarket.us/real-estate-glossary/what-is-advanced-draws-fix-flip-loans" target="_blank" rel="noopener noreferrer">Advanced or Reimbursed, Inspector-less</a></td>
 </tr>
 <tr>
 <td>Underwriting fee</td>
 <td>$495</td>
 </tr>
 <tr>
 <td>Legal/doc prep fee</td>
 <td>$500 - $995</td>
 </tr>
 <tr>
 <td>Prepayment Penalty</td>
 <td>No</td>
 </tr>
 <tr>
 <td>Appraisal required</td>
 <td>Yes</td>
 </tr>
</tbody>
</table>
</div>

 

## Related Illinois Resources

 

- [DSCR Loans Illinois](https://www.offermarket.us/blog/dscr-loans-illinois)
- [Landlord Insurance Illinois](https://www.offermarket.us/blog/landlord-insurance-illinois)

Fix and Flip Loans Illinois is your go-to resource to help you get the best possible terms for your next fix and flip loan.

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Fix and Flip Loans in Illinois - Real Estate Financing

Fix and Flip Loans Illinois

## How much will you save when you sell your house without an agent?

 

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When you sell your house with OfferMarket, you avoid incredibly inefficient transaction fees.

 

| Comparison | OfferMarket | Traditional Brokerage |
|:-----------------:|:------------:|:---------------------:|
| Commission | 0% | 5 - 6% |
| Concessions | 0% (AS IS) | 0 - 2% |
| Repairs | $0 (AS IS) | 0 - 5% |
| Showings | 1 | 10 |
| Closing Timeframe | 30 - 45 days | 60 days |
| Closing Costs | 0 - 2% | 1 - 3% |

 

 

## Sell your house without paying any commissions or fees using [OfferMarket](https://offermarket.us/sell)

Use OfferMarket's Seller Savings Calculator to see how much you can save by selling your house without a real estate agent.

Seller Savings Calculator - OfferMarket

Seller Savings Calculator

Grow your real estate investing business with the most competitive DSCR loan product. OfferMarket provides DSCR rental loans, bridge loans, hard money, fix and flip, slow flip, and ground up construction loans.

Private Lending | OfferMarket

Private Lending

What Is DSCR Cash Out Refinance?

Benefits Of DSCR Cash Out Refinance

How DSCR Cash Out Refinance Works

Pros And Cons Of DSCR Cash Out Refinance

Tips For Maximizing DSCR Cash Out Refinance

Conclusion

Frequently Asked Questions

DSCR Loan Quote

Navigating the world of [real estate investing](https://www.offermarket.us/blog/dscr-real-estate) often means exploring creative financing options. One strategy gaining traction is DSCR cash-out refinancing, a powerful tool for property investors looking to unlock equity. Designed specifically for income-generating properties, this method leverages the Debt Service Coverage Ratio (DSCR) to simplify the refinancing process without relying heavily on personal income verification.

 

For investors aiming to scale their portfolios or access funds for other ventures, DSCR cash-out refinance offers flexibility and efficiency. It allows borrowers to tap into the value of their properties while focusing on the property's ability to generate income. Whether it's for renovations, new acquisitions, or consolidating debt, this financing option is becoming a go-to choice for savvy investors seeking growth opportunities.

 

## What Is DSCR Cash Out Refinance?

 

[DSCR cash-out refinance](https://www.offermarket.us/blog/refinance-rental-property-dscr-loan) is a financing method tailored for real estate investors with income-producing properties. It allows borrowers to tap into their property's equity, providing funds for various investment purposes. Unlike traditional refinancing, DSCR cash-out refinance focuses on the Debt Service Coverage Ratio (DSCR) rather than the borrower's personal income.

 

Lenders use DSCR to assess whether a property's net operating income is sufficient to cover its debt obligations. A DSCR of 1.0 or higher typically indicates the property's income can support loan payments. This approach enables borrowers to qualify based on property performance, bypassing extensive personal income documentation.

 

Investors often use DSCR cash-out refinance to fund property acquisitions, make renovations, or consolidate loans. By leveraging property equity, they gain access to liquid capital without selling assets. This strategy suits those prioritizing portfolio growth and operational efficiency.

 

![DSCR Formula Interest Only](https://cms.offermarket.us/uploads/DSCR_Formula_Interest_Only_9bcd6c02ff.jpg)

 

## Benefits Of DSCR Cash Out Refinance

 

[DSCR](https://www.offermarket.us/blog/what-is-dscr) cash-out refinance offers unique advantages for real estate investors seeking to maximize property equity. By focusing on asset performance, this financing option enables strategic portfolio growth and financial flexibility.

 

### Accessing Equity For Investments

 

Investors use DSCR cash-out refinancing to unlock property equity for reinvestment. This capital can fund property renovations, down payments for new acquisitions, or diversification into multiple assets. For example, an investor can refinance a well-performing rental property to purchase additional properties that generate more income.

 

### Lowering Debt-To-Income Ratio

 

By assessing DSCR instead of personal income, this refinancing reduces dependence on an individual's debt-to-income (DTI) ratio. Borrowers with high DTI ratios can still qualify if the property generates sufficient income to cover loan payments. This approach makes refinancing accessible to investors with extensive portfolios.

 

### Flexible Loan Terms

 

DSCR cash-out refinance offers flexible terms tailored to investor needs, such as longer repayment periods and interest-only options. [Lenders](https://www.offermarket.us/blog/dscr-lenders) may provide terms designed to align with cash flow and income goals, ensuring borrowers can optimize loan structure for their investment strategy.

 

## How DSCR Cash Out Refinance Works

 

DSCR cash-out refinance relies on the property's income rather than the borrower's personal finances. This method evaluates the property's Debt Service Coverage Ratio to determine loan eligibility.

 

### Eligibility Requirements

 

Eligibility centers around the Debt Service Coverage Ratio. Lenders assess whether the property's [net operating income](https://www.offermarket.us/blog/how-do-you-calculate-net-operating-income-for-dscr-loans) (NOI) can cover its debt obligations. A DSCR of 1.0 or higher is often required, although some lenders may accept a DSCR below 1.0 with higher equity.

 

Borrowers typically need a minimum of 15-25% equity in the property to qualify. The property must also generate rental income, and proof of current lease agreements or rental history is usually required. Credit score standards vary among lenders, but a score of 620 or higher commonly enhances approval chances.

 

### Application Process

 

The application involves submitting property-specific financial documents. Borrowers provide proof of the property's income, such as lease contracts or a rent roll. Lenders also evaluate other property performance metrics, including recent appraisals and operating expenses, to determine its DSCR.

 

Unlike traditional refinancing, applicants aren't asked for personal income verification or tax returns. After reviewing documentation, [DSCR lenders](https://www.offermarket.us/blog/dscr-loan-lenders) assess the DSCR to decide loan approval. If approved, they finalize loan terms, which may include cash-out proceeds and repayment schedules tailored to the investor's needs.

 

## Pros And Cons Of DSCR Cash Out Refinance

 

DSCR cash-out refinance has distinct advantages and risks that investors should consider. Understanding these aspects helps evaluate its suitability for specific investment goals.

 

### Advantages

 

* Access to Capital: DSCR cash-out refinance enables investors to tap into property equity, providing funds for renovations, new acquisitions, or debt consolidation. This liquidity supports portfolio growth and operational improvements. 
* Simplified Qualification: Lenders base eligibility on the property's income rather than the borrower's personal income or credit history. A DSCR of 1.0 or higher typically qualifies, making it accessible to self-employed individuals or those with inconsistent income streams. 
* Flexible Loan Terms: Options like interest-only payments and extended repayment periods let investors customize loan structures. These terms align with cash flow strategies, ensuring easier debt management. 
* Reduced Personal Financial Dependency: Borrowers don't rely on personal debt-to-income ratios, focusing instead on property performance. This feature benefits investors with high DTI ratios or limited personal income. 
* Market Volatility: Fluctuations in rental income or property values can impact the DSCR and the ability to meet debt obligations. If rents decline, loan payments may strain cash flow. 
* Higher Costs: DSCR loans often carry increased interest rates and fees compared to traditional refinancing. Investors need to factor in these costs when projecting ROI. 
* Equity Reduction: Cashing out reduces property equity, which could limit future financing opportunities or affect long-term appreciation potential. 
* Stricter Property Requirements: Lenders usually demand 15-25% equity and consistent rental income, validated through lease agreements or historical data. Properties not meeting these criteria may disqualify.

 

## Tips For Maximizing DSCR Cash Out Refinance

 

Optimizing a DSCR cash-out refinance requires strategic planning and informed decision-making. Investors should focus on lender selection and efficient fund allocation to achieve the best outcomes.

 

### Choosing The Right Lender

 

Selecting a lender experienced in [DSCR loans](https://www.offermarket.us/blog/what-is-dscr-loan) ensures smoother transactions and tailored loan terms. They evaluate the property's income accurately, minimizing delays or miscalculations in the refinancing process. Comparing interest rates, fees, and repayment options across multiple lenders secures the most favorable terms. Real estate investors should prioritize lenders offering competitive DSCR thresholds, clear policies, and flexible term structures.

 

### Utilizing Funds Effectively

 

Reinvesting equity into property improvements or acquisitions increases portfolio value and cash flow. Investors often use proceeds for renovations, boosting rental income, or as down payments for new properties. Allocating funds for debt consolidation reduces financial strain and improves overall investment efficiency. Prioritizing high-yield opportunities ensures maximum returns on the capital accessed through refinancing.

 

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</iframe>
</div>

 

## Conclusion

 

[DSCR](https://www.offermarket.us/blog/how-does-a-dscr-loan-work) cash-out refinancing offers real estate investors a powerful tool to unlock property equity and fuel their growth strategies. By focusing on property performance rather than personal income, it provides a streamlined and flexible financing solution tailored to the unique needs of income-generating properties.

 

While it presents exciting opportunities for portfolio expansion and financial flexibility, careful planning and understanding of potential risks are essential. Partnering with experienced lenders and strategically allocating funds can help investors maximize returns and achieve long-term success in their real estate ventures.

 

## Frequently Asked Questions

 

### What is DSCR cash-out refinancing?

DSCR cash-out refinancing is a financing method where real estate investors access equity from income-generating properties without relying on personal income verification. It uses the Debt Service Coverage Ratio (DSCR) to evaluate the property’s ability to cover debt payments, making it ideal for unlocking liquid capital to fund renovations, acquisitions, or consolidate debt.

 

### Who is eligible for DSCR cash-out refinancing?

Eligibility typically requires a minimum DSCR (usually 1.0 or higher) and sufficient property equity. This financing option is specifically designed for real estate investors with income-producing properties, focusing on property performance instead of personal financial metrics.

 

### What are the benefits of DSCR cash-out refinancing?

The key benefits include access to property equity for reinvestment, simplified qualification based on property income, flexible loan terms like interest-only options, and reduced dependence on the borrower’s personal finances. It provides financial flexibility to grow investment portfolios.

 

### Are there any risks with DSCR cash-out refinancing?

Yes, potential risks include market volatility affecting rental income and property values, higher loan costs compared to conventional options, possible reduction in property equity, and stricter property eligibility requirements. Careful financial planning is crucial to mitigate these risks.

 

### How does a DSCR of 1.0 impact loan eligibility?

A DSCR of 1.0 means the property’s income equals its debt payments, indicating it can adequately cover loan obligations. Lenders often use this threshold to determine loan eligibility, as it demonstrates sufficient property performance.

 

### When should I consider DSCR cash-out refinancing?

DSCR cash-out refinancing is most suitable when you want to leverage property equity to fund renovations, acquire new properties, consolidate debt, or improve portfolio cash flow. It’s ideal for growth-focused investors prioritizing access to liquid capital without selling assets.

 

### What documents are required for the application process?

The application process typically requires property-specific financial documents like rent rolls, operating income statements, and property valuation reports. Unlike traditional loans, personal income verification is not the focus.

 

### How can I maximize the benefits of DSCR cash-out refinancing?

To maximize benefits, strategically reinvest funds into property improvements or acquisitions, choose experienced DSCR lenders for favorable terms, and prioritize high-yield projects to boost portfolio value and cash flow. Planning and informed decision-making are essential.

 

### What are the typical loan terms for DSCR cash-out refinancing?

Loan terms can include longer repayment periods, fixed or adjustable rates, and interest-only options. These flexible terms allow investors to tailor refinancing to their financial goals and optimize investment strategies.

 

### Can DSCR cash-out refinancing be used for any type of property?

DSCR cash-out refinancing is primarily designed for income-producing properties, such as rental homes, multifamily units, or commercial real estate. Properties must meet lender-specific guidelines, including income and equity requirements.

 

## DSCR Loan Quote

 

![DSCR loan quote](https://cms.offermarket.us/uploads/DSCR_loan_quote_c3ae268aed.jpg)

 

Our mission is to help you build wealth through real estate. Let's grow and optimize your rental property portfolio!

 

- Get your instant [DSCR loan quote](https://www.offermarket.us/loans?ref=content-dscr-cash-out-refinance) today!
- Save big on premiums with our [landlord insurance rate shopping service](https://www.offermarket.us/insurance?ref=content-dscr-cash-out-refinance)!
- Interested in exclusive investment opportunities? [Browse off market properties](https://www.offermarket.us/listings?ref=content-dscr-cash-out-refinance) now!
- Join our [Facebook community](https://www.facebook.com/OfferMarketUS) to stay up-to-date with the latest platform updates and market insights.
- Subscribe to our [Youtube channel](https://www.youtube.com/@offermarket) for our monthly DSCR loan update.

Learn how a DSCR cash-out refinance can help unlock equity in your property. Use the funds to grow your real estate investment portfolio.

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DSCR Cash-Out Refinance: Unlock Property Equity for Real Estate Investment Growth

What Is DSCR Cash Out Refinance?

* Takes 2 minutes, no credit pull