Washington rentals have built serious equity, from Seattle-area townhomes and Tacoma duplexes to newer homes in Spokane Valley and Clark County. A DSCR cash-out refinance lets you pull some of that equity out on the strength of the rent, without handing over tax returns.
In short: Our top pick for a DSCR cash-out refinance in Washington is LendingStreet. We qualify the loan on the property's rent with no W-2s or tax returns, lend up to 75% LTV on cash-out with 30-year terms available, and close in the name of your LLC. Loans start at $150,000 with no stated maximum, which matters on Puget Sound properties where values run high. We lend statewide, from King County to the Tri-Cities.
LendingStreet is built for investors who want to turn rental equity into their next down payment, a renovation budget or reserves. A DSCR cash-out refinance replaces your current loan with a larger one based on today's value, and the rent covers the new payment.
It fits Washington investors who are self-employed, hold rentals in an LLC, or simply have more properties than a bank's debt-to-income math will allow. It also fits owners who bought years ago in Seattle, Tacoma or Vancouver and now sit on a large equity cushion.
The next step is simple: get a quote with the form below, or call (877) 298-1001 and tell us the address, estimated value, current payoff and rent.
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 Washington, 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. |
Washington investors usually weigh four options: a local bank or credit union, a hard money lender, a national online DSCR lender, or a private individual. Each has its place. For a long-term cash-out on a stabilized rental, the table shows why LendingStreet is our top pick.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| How you qualify | On the property's rent, no W-2s or tax returns | Usually personal income, tax returns and debt-to-income | Mostly the deal; income review varies |
| Cash-out leverage | Up to 75% LTV | Varies; often conservative on rentals | Varies |
| Loan term | 30-year terms available | Varies; some portfolio loans balloon | Usually short-term, interest-only |
| Borrowing in an LLC | Standard | Varies; may require personal borrowing | Common |
| Loan size | From $150,000, no stated maximum | Depends on the bank's appetite | Varies |
| Where they lend | All 50 states and DC | Usually a local footprint | Often regional |
In the Puget Sound region, much of the equity sits in older craftsman homes, duplexes and townhomes in Seattle, Tacoma, Everett, Renton and Kent, plus newer rentals on the Eastside. Many Seattle lots now carry an ADU or detached ADU, which can add rent to the ratio if the unit is permitted.
East of the mountains, Spokane and Spokane Valley offer lower price levels and solid rent coverage, and the Tri-Cities (Kennewick, Pasco and Richland) draw tenants tied to the area's large employers. In the southwest, Vancouver rentals lease to households working across the Portland metro. Bellingham, Olympia and Yakima round out the map.
Because values differ so much across the state, a cash-out in Spokane and one in Bellevue can look very different on paper. The DSCR math is the same; the loan size and the tax line are not.
Washington has no state income tax, and property taxes are set through county assessors and local levies. Use the current bill from the county treasurer, not an estimate, when you run your ratio. Washington's real estate excise tax is generally a tax on sales, so a straight refinance does not usually trigger it, but confirm with your title or escrow company.
Expect the usual refinance costs: a new lender's title policy, escrow and recording fees, and a valuation. Insurance deserves a closer look. Earthquake coverage is usually separate, homes near the Snohomish, Skagit and Puyallup rivers may sit in flood zones, and wildfire exposure matters in parts of eastern Washington.
In 2025 Washington adopted a statewide cap on annual rent increases, set at 7% plus inflation with a 10% ceiling, and it has exemptions, including for newer buildings. Seattle and some other cities layer on their own notice and tenant protection rules. For a cash-out, that means you should qualify on today's rent rather than a planned jump.
Seasoning, the time you must own the property before a cash-out, varies by program. If you bought or finished a renovation recently, read our guide to DSCR cash-out seasoning and tell us your purchase date so we can match the right program.
This example is illustrative and not a quote. An investor owns a Tacoma duplex now valued at $640,000, with a current payoff of $260,000. The two units rent for a combined $4,100 a month. Taxes are budgeted at $520 a month and insurance at $160.
At 75% LTV the new loan is $480,000, and estimated principal and interest is about $3,274. The full payment is about $3,954, for a DSCR of about 1.04x. Cash out before closing costs is about $220,000.
At 70% LTV the loan is $448,000 and the payment drops to about $3,736, lifting DSCR to about 1.10x with about $188,000 in cash out. Both clear the 1.0x standard minimum.
| Item | 75% LTV | 70% LTV |
|---|---|---|
| New loan amount | $480,000 | $448,000 |
| Estimated principal and interest | $3,274 | $3,056 |
| Taxes and insurance | $680 | $680 |
| Total monthly payment | $3,954 | $3,736 |
| DSCR at $4,100 rent | About 1.04x | About 1.10x |
| Cash out before closing costs | $220,000 | $188,000 |
Whoever you talk to, ask the same questions so you can compare offers side by side. Here is the short list:
Here is how LendingStreet answers: cash-out up to 75% LTV (purchase up to 80%), with max LTV varying by program on 5-8 units and larger balances; 1.0x standard DSCR with sub-1.0 programs; seasoning that varies by program; LLC borrowers as standard; a closing plan set once we review the property and title; loans from $150,000 with no stated maximum; and a 620 minimum credit score.
Send us the address, estimated value, payoff, current lease and your target cash amount. We will run the ratio at a few loan amounts and show you the trade-off between cash out and coverage.
If you own five or more rentals, ask about a blanket portfolio loan that can refinance them on one closing. Get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet. We qualify on the rent with no tax returns, lend up to 75% LTV on cash-out with 30-year terms, close in your LLC and lend statewide from $150,000 with no stated maximum.
Yes. We finance business-purpose DSCR loans on non-owner-occupied 1-8 unit rentals across Washington, including Seattle, Tacoma, Spokane, Vancouver and the Tri-Cities.
Up to 75% of the appraised value, minus your payoff and closing costs, as long as the rent still covers the new payment. Max LTV can be lower on 5-8 units and larger balances.
It affects how fast you can raise rent, so we qualify on current leases and market rent. It does not stop you from refinancing.
Generally no, because the tax applies to sales. Your title or escrow company can confirm for your specific transaction.
If the ADU is permitted and leased, its rent can usually be counted toward the ratio. Unpermitted units are a problem, so confirm permits first.
We offer sub-1.0 DSCR programs, or you can take a smaller loan to improve the ratio, as the example above shows.
No. Our loans are business-purpose loans on non-owner-occupied investment property, so your own home does not qualify.
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