Indiana is known for rental properties that cash flow, from Indianapolis single-family homes to Fort Wayne and Evansville duplexes. With prices that are reasonable compared with rents, many Indiana investors use a DSCR cash-out refinance to recycle equity into the next property.
In short: Our top pick for a DSCR cash-out refinance in Indiana is LendingStreet. We qualify on the property's rent with no W-2s or tax returns, lend to LLCs as standard, and offer cash-out up to 75% LTV on 1-8 unit rentals from $150,000 with no stated maximum. Indiana's property tax caps make taxes predictable for rentals, which helps us size your cash-out with confidence.
Our cash-out refinance is designed for investors who hold rentals in an LLC and want to pull equity without proving personal income. In Indiana we lend on non-owner-occupied 1-8 unit rentals, up to 75% LTV, from $150,000 with no stated maximum, on 30-year terms, with a 620 minimum credit score and a 1.0x standard DSCR minimum.
It suits investors who own rentals free and clear, who have built equity through renovation, or who are moving off a short-term loan. Send the details through the form below, or call (877) 298-1001, and we will run the numbers on your property.
Well-known DSCR cash-out refinance lenders include CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Compared scenario by scenario for investors in Indiana, LendingStreet comes out as the stronger choice, and one application covers it.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
When you shop a cash-out refinance in Indiana, you are usually choosing among lender types, not just rates. This table compares LendingStreet with those types in general terms.
| What matters on a cash-out | LendingStreet | Local bank or credit union | National online DSCR lender |
|---|---|---|---|
| Paperwork | Rent-based qualifying, no tax returns | Tax returns and debt-to-income review are common | Rent-based, terms vary |
| Entity borrowing | LLC borrowers are standard | Varies by bank | Often allowed |
| Cash-out leverage | Up to 75% LTV | Varies; often lower for investors | Varies by program |
| Loan size | From $150,000, no stated maximum | Often capped by bank policy | Varies |
| Term | 30-year terms available | Often shorter balloons | Often 30-year; varies |
| Talk to a person | Dedicated loan officer at (877) 298-1001 | Branch staff; investor focus varies | Often online-only intake |
Indianapolis is the state's largest rental market, with older homes in neighborhoods on the east, west and south sides, newer homes in the surrounding counties, and doubles that rent to working tenants. Fort Wayne, Evansville and South Bend have similar housing at lower prices. Bloomington and West Lafayette add student rentals near the universities, and the Gary and Hammond area draws tenants who work in the Chicago region.
One thing to watch: our DSCR loans start at $150,000. Some Indiana rentals are worth less than that on their own, so lower-value properties may fit better combined in a blanket portfolio loan.
Indiana caps property taxes as a share of gross assessed value: 1% for an owner's homestead, 2% for other residential property including rentals, and 3% for commercial and other property. Some voter-approved levies can sit outside the caps.
If you bought from an owner-occupant, the bill can rise when the homestead cap and deductions come off. Budget on the rental rate, which may approach 2% of assessed value.
Indiana does not charge a state real estate transfer tax. A refinance includes title insurance, recording and closing fees, usually handled by a title company.
Indianapolis requires landlords to register rental properties with the city, and other cities have their own inspection or registration programs. Indiana law also preempts local rent control. Have registrations and leases ready before you apply.
Cash-out seasoning varies by program, so check our guide if you bought and renovated recently. Many Indiana investors buy, rehab and refinance, and timing the refinance correctly matters.
Standard rentals reach up to 75% LTV on cash-out. Small multi-unit buildings up to 8 units qualify, though max LTV on 5-8 units varies by program.
If you are coming off a short-term rehab loan, plan the refinance before that loan matures. Order the appraisal once the work is finished and the unit is leased, so the value and the rent both reflect the finished property. Signed leases at market rent give the clearest support for the ratio, and a completed rehab with permits closed out makes the appraisal and title work go more smoothly.
This example is illustrative and not a quote. An investor owns an Indianapolis single-family rental appraised at $240,000, leased at $1,850 a month, with a $95,000 balance. At 75% LTV the new loan is $180,000, and estimated principal and interest is about $1,228 a month. Adding taxes of $380 and insurance of $110, the payment is about $1,718 and DSCR is about 1.08x. Paying off the $95,000 balance leaves about $85,000 before closing costs.
Because rental taxes are capped at 2% of gross assessed value, the tax line here is predictable. The investor can use the cash for the next rehab and later refinance that property, too.
| Item | 75% LTV cash-out |
|---|---|
| Appraised value | $240,000 |
| New loan amount | $180,000 |
| Estimated principal and interest | $1,228 |
| Property taxes (monthly) | $380 |
| Insurance (monthly) | $110 |
| Total monthly payment | $1,718 |
| DSCR at $1,850 rent | About 1.08x |
| Cash after $95,000 payoff, before costs | $85,000 |
Before you pick a lender, put these questions to each one in writing. Here are our answers.
If a lender cannot answer these clearly, keep shopping. If you want our answers applied to your property, get a quote with the form below.
Have your leases, tax bill, insurance quote and payoff balance ready. We will run the numbers, show where the ratio lands and give you clear options. Use the form below or call (877) 298-1001 to begin.
Our top pick is LendingStreet. We qualify on rent instead of tax returns, lend to LLCs, and offer cash-out up to 75% LTV on 1-8 unit rentals from $150,000.
Yes. We lend in all 50 states and DC, including Indianapolis, Fort Wayne, Evansville and South Bend.
Residential rentals are capped at 2% of gross assessed value, with some voter-approved levies outside the cap.
No. Indiana has no state real estate transfer tax. Title, recording and closing fees still apply.
Our DSCR loans start at $150,000, so lower-value rentals may fit better in a blanket portfolio loan with other properties.
Yes. Indianapolis requires rental registration. Have it on hand.
Seasoning varies by program. Our seasoning guide explains the timing.
Get a quote with the form below or call (877) 298-1001.
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