Massachusetts investors own some of the most valuable small multi-family buildings in the country. A triple-decker bought a decade ago in Dorchester, Worcester or Lowell may now hold enough equity to fund the next deal.
In short: LendingStreet is our top pick for a Massachusetts DSCR cash-out refinance. We qualify on the building's rent, not your tax returns, offer cash-out up to 75% LTV with 30-year terms available, and lend to LLCs as standard. Loans start at $150,000 with no stated maximum, which matters at Massachusetts prices. We lend statewide, from Boston, Cambridge and Somerville to Worcester, Springfield, Lowell and New Bedford.
LendingStreet offers business-purpose DSCR cash-out refinances on 1 to 8 unit Massachusetts rentals, which covers two-families, triple-deckers and small apartment buildings. Larger balances get more review, and maximum LTV can be lower on them depending on program.
It fits investors who own rentals free and clear, investors whose property has gained value since they bought it, and anyone who wants to pull equity into an LLC without handing over personal tax returns. The next step is simple: get a quote with the form below or call (877) 298-1001.
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 Massachusetts, 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. |
Most Massachusetts investors weigh three kinds of lenders for a rental cash-out: a local bank or credit union, a local hard money lender, or a lender built for investors. Here is how they generally line up.
Banks can be a good fit for borrowers with simple W-2 income and few properties, and hard money can make sense for a short fix-up. For long-term equity on a stabilized rental, a DSCR cash-out is usually the cleaner tool.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify on rent instead of tax returns | Yes, DSCR-based | Usually requires tax returns and debt ratios | Often asset-based; varies |
| Cash-out leverage | Up to 75% LTV | Varies; often conservative on rentals | Varies; usually short-term |
| Borrow in an LLC | Standard | Sometimes, often with extra steps | Common |
| Loan term | 30-year terms available | Often shorter terms or balloons | Usually 6 to 24 months |
| Loan size | From $150,000, no stated maximum | Often capped by local policy | Varies by lender |
| Coverage | All of Massachusetts, plus 49 other states and DC | Usually its local market | Usually local or regional |
Boston neighborhoods such as Dorchester, East Boston and Roslindale, along with Cambridge, Somerville and Quincy, carry the highest values and rents. Triple-deckers and two-families make up much of the investor stock.
Worcester, Springfield, Lowell, Lawrence, Brockton, New Bedford and Fall River offer the same building types at lower prices, with tenant demand from hospitals, universities and commuters. Many investors hold a mix of Boston-area and Gateway City properties.
Each Massachusetts city and town sets its own tax rate per $1,000 of value, and many use separate residential and commercial rates. Boston and some other cities offer a residential exemption only to owner-occupants, so an investor's bill is often higher than a neighbor's.
Massachusetts closings are typically run by attorneys. The deed excise tax applies when property is sold, not on a refinance with the same owner. Expect title, appraisal, recording and attorney costs on a cash-out.
Massachusetts' lead law requires owners of pre-1978 housing to address lead hazards when a child under six lives in the unit, so letters of compliance matter on older triple-deckers. Boston and several other cities also run rental registration or inspection programs.
Boston generally does not allow investor-owned units to operate as short-term rentals, and Cambridge has similar limits, so cash-outs there are sized on long-term leases. Coastal properties may sit in mapped flood zones; check the map and get a quote early.
This example is illustrative and not a quote. An investor owns a Worcester triple-decker appraised at $600,000, with $280,000 left on the existing loan. The three units lease for a combined $5,100 a month. Taxes are about $600 a month and insurance on the older wood-frame building is about $300.
At 75% LTV the new loan is $450,000. After the $280,000 payoff and an estimated $8,000 in closing costs, about $162,000 comes back to the investor. Estimated principal and interest is about $2,994, so the full monthly payment is about $3,894 and DSCR is about 1.31x.
At 70% LTV the loan is $420,000, cash back is about $132,000, estimated principal and interest is about $2,794 and DSCR rises to about 1.38x. Three units of rent make the ratio comfortable, which is why so many Massachusetts investors refinance triple-deckers.
| Item | 75% LTV cash-out | 70% LTV cash-out |
|---|---|---|
| New loan amount | $450,000 | $420,000 |
| Existing loan payoff | $280,000 | $280,000 |
| Estimated closing costs | $8,000 | $8,000 |
| Approximate cash back | $162,000 | $132,000 |
| Estimated principal and interest | $2,994 | $2,794 |
| Taxes and insurance | $900 | $900 |
| Total monthly payment | $3,894 | $3,694 |
| DSCR at $5,100 rent | About 1.31x | About 1.38x |
Seasoning is the time you must own a property before a lender will use today's appraised value for a cash-out. It varies by program, and our guide to DSCR cash-out refinance seasoning explains the common options. If you bought recently and rehabbed, ask about the rules before you order an appraisal.
Two limits set the loan amount: up to 75% of appraised value, and a rent that covers the new payment at the program's DSCR minimum, usually 1.0x. On 5 to 8 unit properties and on larger balances, maximum LTV can be lower, so the answer varies by program.
Before you sign anything, put the same questions to every lender you talk to. Here is the list, followed by how LendingStreet answers each one.
LendingStreet's answers: cash-out up to 75% LTV, lower on some larger balances and 5 to 8 unit properties depending on program; a 1.0x standard DSCR minimum with sub-1.0 programs available; seasoning that varies by program; LLC borrowers as standard; a timeline mapped out at the start around the appraisal, title and payoff; and loans from $150,000 with no stated maximum.
Have these items ready and the financing team can size your loan quickly. Then get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. We qualify Massachusetts rentals on rent rather than tax returns, offer cash-out up to 75% LTV with 30-year terms, and lend to LLCs as standard. Get a quote with the form below.
Yes. LendingStreet lends across Massachusetts, along with every other state and DC, on 1 to 8 unit non-owner-occupied rentals.
Up to 75% of appraised value, minus your existing payoff and closing costs, as long as the rent covers the new payment at the program's DSCR minimum. Larger balances may have lower limits that vary by program.
Yes. Triple-deckers are 3-unit residential properties, well inside our 1 to 8 unit range. Larger balances get more review.
No. It applies when property is sold. A refinance with the same owner does not trigger it.
It can. Keep letters of compliance for units where children under six live, since the appraisal and insurer may ask.
Generally not on nightly income. Boston restricts investor-owned short-term rentals, so loans there use long-term rent.
No. Our loans are business-purpose loans on non-owner-occupied investment property, so a primary residence does not qualify.
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