Plenty of New York City landlords are sitting on a two-family in Queens or a Brooklyn brownstone bought years ago, with more equity than they ever planned on. The challenge is turning that equity into cash without handing over a stack of tax returns, and without a payment the rent cannot carry.
In short: Our top pick for a DSCR cash-out refinance in New York City is LendingStreet. We qualify on the building's rent with no W-2s or tax returns, lend up to 75% LTV on cash-out, and treat LLC borrowers as standard. Loans start at $150,000 with no stated maximum, which matters in a city where a modest two-family can carry a seven-figure value.
LendingStreet is built for investors. Our DSCR cash-out refinance pulls equity from 1-8 unit rentals across Brooklyn, Queens, the Bronx, Staten Island and Manhattan, qualifying on the lease income instead of your personal income. The standard minimum DSCR is 1.0x, sub-1.0 programs exist, the minimum credit score is 620 and 30-year terms are available.
It fits landlords who own a building outright, investors finishing a BRRRR, and owners who want capital for the next purchase without selling. For high-value buildings, our jumbo DSCR program covers roughly $1.5M to $5M+.
To start, get a quote with the form below or call (877) 298-1001.
Investors searching for DSCR cash-out refinance lenders often compare national names like CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in New York City, NY. In every scenario below, LendingStreet is the best fit.
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. |
New York owners usually look at a bank or credit union, a national online DSCR lender, a private lender, or LendingStreet. Each can work, but they handle income, entities and loan size differently.
| What investors need | LendingStreet | Typical bank or credit union | Typical private lender |
|---|---|---|---|
| Qualifies on | The building's rent | Personal income and tax returns | Mostly equity |
| Max cash-out LTV | Up to 75% | Varies on investment property | Varies, often lower |
| Term | 30-year terms available | Varies | Usually short-term |
| LLC borrowers | Standard | Varies | Common |
| Large balances | No stated maximum; jumbo program | Varies | Varies |
| Multiple boroughs and states | All 50 states and DC | Usually regional | Usually local |
The sweet spot is fee-simple 1-4 family homes: the two-family and three-family brick homes common in Ridgewood, Bushwick, Bay Ridge, Astoria, Jackson Heights and much of the Bronx, plus Brooklyn brownstones and rowhouses and detached homes on Staten Island. Small mixed buildings with up to 8 residential units can also fit as residential DSCR, with max LTV that varies by program. Buildings with 9 or more units are commercial; see our commercial page for those.
Condo units can work when the building and its rules allow rentals. Co-op apartments are shares in a corporation, not real property, and generally do not fit a DSCR mortgage, so ask before you plan on one.
Rent rules shape the income we underwrite. Many buildings with six or more units built before 1974 are rent stabilized, and the 2019 state rent law limited how much stabilized rents can rise. If your building has stabilized units, use the legal registered rents in your numbers, not hoped-for market rents.
The city also requires annual property registration with HPD for buildings with three or more units, and for one- and two-family homes where the owner does not live. Keep the registration current; an open violation or lapse can slow any refinance.
Since Local Law 18 took effect in 2023, short-term rentals under 30 days require city registration, the host must live in the unit, and no more than two guests are allowed. In practice, a non-owner-occupied nightly rental is not a workable plan in the five boroughs, so NYC cash-out files are underwritten on long-term leases. Investors who want short-term rental income usually look at markets elsewhere in the state where local rules allow it, and should check with that town or county first.
This example is illustrative and not a quote. An owner holds a Brooklyn two-family worth $1,400,000 with $350,000 left on the old mortgage. The two units rent for $7,000 a month combined. Taxes run about $650 a month and insurance about $275.
At the full 75% LTV, the $1,050,000 loan has estimated principal and interest of about $7,163, the total payment is about $8,088 and DSCR is about 0.87x, below the 1.0x standard minimum. At 60% LTV, the $840,000 loan brings the payment to about $6,655 and DSCR to about 1.05x, which clears it and still frees up about $490,000 before closing costs.
In this case the rent, not the LTV cap, sets the cash-out. The largest loan the rent supports at 1.0x is about $890,532. A sub-1.0 DSCR program may stretch further.
| Item | 75% LTV | 60% LTV |
|---|---|---|
| New loan | $1,050,000 | $840,000 |
| Estimated principal and interest | $7,163 | $5,730 |
| Taxes and insurance | $925 | $925 |
| Total monthly payment | $8,088 | $6,655 |
| DSCR at $7,000 rent | About 0.87x | About 1.05x |
| Cash out before costs, after $350,000 payoff | $700,000 | $490,000 |
New York charges a mortgage recording tax on new mortgages, and in the city it is higher than in most of the state. On a refinance, a CEMA (consolidation, extension and modification agreement) can limit the tax to the new money rather than the full balance when the existing loan is assigned. Whether a CEMA is possible depends on the existing lender and the program, so ask early and confirm the figures with your closing attorney.
Title insurance, attorney fees and the appraisal round out the costs. Build them into your target cash-out so the number you plan around is net of closing.
Before you compare offers, put the same questions to every lender:
Up to 75% LTV on cash-out, with lower max LTV on some 5-8 unit and larger-balance loans, varying by program. A 1.0x standard minimum DSCR, with sub-1.0 programs available. Seasoning varies by program. LLC borrowers are standard, and loans start at $150,000 with no stated maximum.
Send the address, unit count, current rents, the payoff and the cash you are targeting. Get a quote with the form below, or call (877) 298-1001 to talk it through.
Our top pick is LendingStreet. We qualify on the building's rent with no tax returns, lend up to 75% LTV on cash-out, welcome LLC borrowers and have no stated maximum loan size.
Yes. We lend in all five boroughs and across New York State, as well as in all 50 states and DC, on 1-8 unit investment properties.
Possibly, if the building is 8 units or fewer. We underwrite on the legal registered rents, so the ratio has to work at those numbers.
Generally no. City rules require the host to live in the unit for stays under 30 days, so NYC cash-out loans are underwritten on long-term leases.
Co-ops are shares rather than real property and generally do not fit a DSCR mortgage. Fee-simple homes, small buildings and eligible condo units are a better fit.
A CEMA lets a new loan take over an existing mortgage so recording tax is paid mainly on the new money. Availability depends on the existing lender and the program; ask early.
Up to 75% LTV, but the rent must cover the new payment at the program's DSCR minimum. In high-value neighborhoods, the rent often sets a lower limit.
No. Our cash-out loans are business-purpose loans on non-owner-occupied rentals.
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