Louisville's shotgun houses, doubles and brick ranches rent well for what they cost, so cash-out ratios here tend to be healthy. Flood zones near the river and creeks, and changing short-term rental rules, are the details to check.
In short: LendingStreet is our top pick for a Louisville DSCR cash-out refinance. We qualify on the property's rent with no W-2s or tax returns, allow cash-out up to 75% of appraised value, lend to LLCs as standard and offer 30-year terms. Loans start at $150,000 with no stated maximum. Because Louisville rents cover payments well, many files size to the full 75% rather than being held back by the ratio.
Louisville investors who own shotgun homes, camelbacks and doubles in the older neighborhoods, or brick ranches in the south and east ends, are a natural fit for our DSCR cash-out program, especially when the properties sit in an LLC.
The program in plain terms: cash-out up to 75% LTV, loans from $150,000 with no stated maximum, a 620 minimum credit score, and qualification on the rent the property earns instead of your personal income. Borrowing in an LLC is normal for us, the standard DSCR floor is 1.0x with sub-1.0 options on some programs, and a 30-year term lets you hold the property after the cash comes out.
To see your numbers, fill out the form below or call (877) 298-1001. Bring the address, the payoff balance and the lease, and we will size the loan with you.
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 Louisville, KY, 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. |
Close to downtown, Germantown, Schnitzelburg, Clifton, the Highlands, Crescent Hill and Old Louisville hold much of the city's character housing: shotgun houses, camelbacks, double shotguns and large older homes split into units. Shively, Okolona, Fern Creek and the Newburg area have more brick ranch rentals at lower prices.
Jeffersontown, St. Matthews and areas near the Ford plants and the UPS hub draw steady tenant demand, and southern Indiana across the river is a separate market with its own rules.
Typical uses for the cash include buying another double in the Highlands or Germantown, finishing a camelback addition, or paying off the short-term loan from a recent rehab. Because rents cover payments well, a single refinance often funds the down payment on the next property.
Most investors we talk to have already called a bank and maybe a private lender. Those options can work, but they are built for different jobs. Here is a fair, general comparison on the issues that decide a rental cash-out.
The short version: banks lean on your personal income, short-term lenders are built for quick exits, and LendingStreet gives you long-term rental financing on the property's own numbers.
| What matters on a cash-out | LendingStreet | Local bank | Private or hard money lender |
|---|---|---|---|
| Income documents | None; rent qualifies the loan | Tax returns and pay history are common | Varies |
| Maximum cash-out | Up to 75% of appraised value | Varies by bank | Varies; fees and terms vary |
| Built to hold long term | Yes, 30-year terms available | Sometimes, often with a shorter balloon | No, short-term loans |
| Borrowing in an LLC | Standard | Case by case | Common |
| Minimum credit score | 620 | Varies, often higher | Varies |
| One lender for flip, bridge and rental | Yes | Rarely | Usually short-term loans only |
Jefferson County property taxes are moderate, and Kentucky's deed transfer tax applies to sales, so a refinance mostly carries title, recording and appraisal costs. Insurance is usually reasonable, but low-lying areas near the Ohio River and some creeks are in mapped flood zones, where flood insurance is generally required. Check the flood determination early.
Louisville Metro requires short-term rentals to register, and non-host STRs in residential zones have needed a conditional use permit and spacing from other STRs. The rules have changed several times in recent years, including a pause on new approvals, so confirm the current status before relying on nightly income. Most investor cash-outs here are underwritten on long-term leases.
This example is illustrative and not a quote. An investor owns a Germantown double shotgun appraised at $330,000, with a payoff of $140,000. The two sides rent for $2,750 a month combined. Taxes are budgeted at $275 a month and insurance at $140.
At 75% LTV the loan is $247,500. Estimated principal and interest is $1,688, the full payment is $2,103, and DSCR is about 1.31x, well above the 1.0x standard. The investor takes about $107,500 out before closing costs. Here the 75% LTV cap, not the rent, is what limits the loan.
| Item | 75% LTV |
|---|---|
| Appraised value | $330,000 |
| Loan amount | $247,500 |
| Existing payoff | $140,000 |
| Cash out before closing costs | $107,500 |
| Estimated principal and interest | $1,688 |
| Taxes, insurance and HOA | $415 |
| Total monthly payment | $2,103 |
| Monthly rent | $2,750 |
| DSCR | About 1.31x |
Start with value. Cash-out goes up to 75% LTV on the appraised value, not on what you paid. Then check the rent: the monthly rent divided by the new payment (principal, interest, taxes, insurance and HOA) has to meet the DSCR minimum, 1.0x on standard programs. Whichever limit is lower sets the loan, and the payoff of your current loan and closing costs come off the top.
How long you need to have owned the property before cashing out depends on the program; our seasoning guide covers the details. Larger balances and 5-8 unit properties can carry a lower maximum LTV, which varies by program.
Before you pick a lender, put these questions to each one and write the answers down. We have filled in LendingStreet's answers so you have a benchmark.
These items help us give you a clear answer quickly. Get a quote with the form below or call (877) 298-1001.
LendingStreet is our top pick for Louisville investors: rent-based qualification instead of tax returns, up to 75% LTV on a cash-out, LLC borrowing as standard, a 620 minimum credit score and 30-year terms available.
Yes. LendingStreet makes business-purpose DSCR loans on investment property in Louisville, the rest of Kentucky and every other state plus DC. Call (877) 298-1001 to start.
Yes. We add the rent from both sides and compare it with the full new payment.
If the property is in a mapped flood zone, flood insurance is generally required and becomes part of the payment, which lowers DSCR.
Only if it holds the required registration and permits. Rules have changed often, so we usually underwrite on a long-term lease.
Seasoning varies by program. Tell us the purchase date and the rehab scope and we will match the file to a program.
Yes. We lend in all 50 states and DC, and Indiana properties follow Indiana's rules and costs.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.