Philadelphia is built on rowhomes, and a lot of investors buy them the same way: cash or short-term money for the purchase, a full gut or a lighter refresh, then a tenant. The final step, getting the capital back out, is where a DSCR cash-out refinance comes in, and where the city's licensing rules matter as much as the rent.
In short: Our top pick for a DSCR cash-out refinance in Philadelphia is LendingStreet. We qualify on the rowhome's or building's rent with no W-2s or tax returns, offer up to 75% LTV on cash-out, lend to LLCs as standard and offer sub-1.0 DSCR programs for files where the rent runs a little short of the payment.
LendingStreet is an investor lender for business-purpose loans on non-owner-occupied rentals. Our Philadelphia DSCR cash-out starts at $150,000 with no stated maximum, uses a 1.0x standard minimum DSCR with sub-1.0 options, needs a 620 minimum credit score and offers 30-year terms.
It is built for BRRRR investors refinancing a rehabbed rowhome, landlords with paid-down duplexes and triplexes, and owners pulling equity to fund the next purchase. Because we lend in all 50 states and DC, you can keep using the same lender if you also buy in the suburbs, South Jersey or Delaware.
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 Philadelphia, PA, 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. |
Philadelphia investors usually consider a local bank or credit union, a local hard money lender for the purchase, a national online DSCR lender and LendingStreet. How they compare for the cash-out step:
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Long-term cash-out loan | Yes, 30-year terms available | Sometimes | Usually short-term only |
| Qualifying basis | The rent | Personal income and returns | The property |
| Max cash-out LTV | Up to 75% | Varies | Varies |
| Rent slightly below payment | Sub-1.0 programs available | Usually not | Not applicable |
| LLC borrowers | Standard | Varies | Common |
| Purchase and rehab financing too | Yes, fix and flip and bridge loans | Limited | Yes |
North and Northeast Philadelphia, including Kensington, Port Richmond, Frankford, Mayfair and Juniata, have long blocks of two-story brick rowhomes that rent steadily. In West Philadelphia, Cobbs Creek, Walnut Hill and the blocks near the universities mix rowhomes with twins and converted multi-unit houses. South Philadelphia and Grays Ferry have rowhomes close to Center City, and Germantown and Mount Airy have larger stone twins and small apartment houses.
Many Philly rentals are conversions: a large rowhome split into two or three units. Make sure the units are legal, with the right zoning and certificates, because an appraiser may not count rent from an unpermitted unit.
Philadelphia requires a rental license from the Department of Licenses and Inspections for every rental unit, and landlords must give tenants a Certificate of Rental Suitability. Pre-1978 rentals are subject to the city's lead-safe or lead-free certification rules. Without a current license, you may not be able to collect rent through the courts, and a lender will ask about it.
Short-term rentals face their own licensing and zoning rules in the city, and non-owner-occupied nightly rentals are restricted in many residential districts. Confirm with L&I before counting short-term revenue; most Philadelphia cash-out loans use long-term leases.
City and school district property taxes are about 1.4% of the assessed value set by the Office of Property Assessment. Assessments have been updated in recent years, so check the current figure rather than an old bill. Investors do not qualify for the homestead exemption.
Philadelphia and Pennsylvania together charge a high realty transfer tax on sales, which is one reason many investors refinance instead of selling. A cash-out refinance does not trigger the transfer tax, so the main costs are title, recording and the appraisal.
Insurance on older rowhomes is usually manageable, but party walls, flat roofs and older wiring can raise questions. A rehab that replaced the roof, electrical service and plumbing helps both the appraisal and the premium, so keep the permits and invoices with your file.
This example is illustrative and not a quote. An investor bought a Kensington rowhome with cash, renovated it and leased it for $2,000 a month. It now appraises at $310,000, with no mortgage. Taxes at about 1.4% of an assessment equal to value are about $362 a month, and insurance is about $110.
At 75% LTV, the $232,500 loan has estimated principal and interest of about $1,586, a total payment of about $2,058 and DSCR of about 0.97x, just under 1.0x. A sub-1.0 program may fit. At 70% LTV, the $217,000 loan brings the payment to about $1,952 and DSCR to about 1.02x, clearing the standard minimum.
The largest loan this rent supports at 1.0x is about $223,989, so the investor chooses between a little more cash on a sub-1.0 program or the standard program at a slightly lower LTV.
| Item | 75% LTV | 70% LTV |
|---|---|---|
| New loan | $232,500 | $217,000 |
| Estimated principal and interest | $1,586 | $1,480 |
| Taxes and insurance | $472 | $472 |
| Total monthly payment | $2,058 | $1,952 |
| DSCR at $2,000 rent | About 0.97x | About 1.02x |
| Path | Sub-1.0 program, if eligible | Standard 1.0x program |
Bring the same list to every conversation:
Up to 75% LTV on cash-out, varying by program on 5-8 units and larger balances. A 1.0x standard minimum DSCR, with sub-1.0 programs. Seasoning varies by program, so share your purchase date and rehab costs. LLC borrowers are standard, and loans start at $150,000 with no stated maximum.
If you own five or more Philadelphia rentals, a blanket portfolio loan can refinance them on one closing, qualified on combined cash flow.
Send the address, lease, rental license, OPA assessment, insurance quote and any payoff, plus your target cash-out. We will run the ratio at a few loan sizes and send options. Get a quote with the form below, or call (877) 298-1001.
Our top pick is LendingStreet. We qualify on rent with no tax returns, lend up to 75% LTV on cash-out, welcome LLC borrowers and offer sub-1.0 DSCR programs.
Yes. We lend across Philadelphia and its suburbs, all of Pennsylvania and all 50 states and DC.
You should have one. Philadelphia requires a rental license for every rental unit, and underwriting will ask about it.
No. Philadelphia's realty transfer tax applies to transfers of property, not to a refinance.
Seasoning varies by program. Share the purchase date and rehab receipts, and we will match you to the right program.
Rent from legal units counts. An unpermitted unit may not be counted by the appraiser.
A sub-1.0 DSCR program may work, or a slightly lower LTV can bring the ratio above 1.0x.
No. Our loans are business-purpose loans on non-owner-occupied rentals.
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