Delaware charges one of the largest transfer taxes in the region when property sells, but not when it refinances. For an investor holding a rental, that makes a rate-and-term refinance a far cheaper move than selling and buying again.
In short: Our top pick for DSCR rate-and-term refinancing in Delaware is LendingStreet. We refinance 1-8 unit rentals in all three counties on the property's rent, with no W-2s or tax returns. Leverage reaches up to 80% LTV on some programs, loans start at $150,000 with no stated maximum and LLC borrowers are standard, so you can retire a hard money, bridge or bank loan with a 30-year term.
LendingStreet is built for investors. A rate-and-term DSCR refinance replaces the loan on your rental with a long-term loan that qualifies on the property's rent, with no W-2s or tax returns. It is how Delaware investors move out of hard money, bridge debt, a bank balloon or a higher-cost loan without pulling cash out.
The investors who get the most from it are the ones with a leased property and a deadline: a hard money maturity, a bridge extension fee on the horizon or a bank note set to balloon. A rent-based approval removes the income paperwork that often slows those files down.
We lend from $150,000 with no stated maximum, up to 80% LTV on some programs, with a 620 minimum credit score and 30-year terms available. Get a quote with the form below or call (877) 298-1001.
Investors searching for DSCR 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 Delaware. 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. |
In New Castle County, investors buy rowhomes and twins in Wilmington, older homes in Elsmere and New Castle, and student-area rentals near the university in Newark. Middletown and Bear add newer subdivisions, and many investors there refinance builder-era bridge or bank loans once tenants are in place. Kent County, centered on Dover, has steady demand tied to state government and Dover Air Force Base.
In Sussex County, the beach towns around Rehoboth, Lewes and Bethany draw seasonal and higher-value rentals, while inland towns like Georgetown, Seaford and Millsboro have lower prices and long-term tenants. Across all three counties, small local banks are common lenders to investors, and their shorter loan terms are a frequent reason for a rate-and-term refinance.
Most Delaware investors weigh a local bank or credit union, a national online DSCR lender, a private individual lender or an investor lender like LendingStreet. Hard money lenders rarely offer the long-term loan you are refinancing into. Here is how the choices compare on what matters for a rate-and-term refinance.
Banks and credit unions often want full income documentation and may cap the number of investor loans they hold. Online DSCR lenders and private lenders vary. What sets LendingStreet apart is the combination: rent-based approval, LLC borrowing as standard, leverage up to 80% LTV on some programs and short-term loans in-house for the next deal.
| Refinance need | LendingStreet | Typical bank | Typical hard money or private lender |
|---|---|---|---|
| Qualifies on | The property's rent (DSCR) | Often personal income and tax returns | The property and a short exit |
| Loan term | 30-year terms available | Varies; balloons are common on investor loans | Usually short-term only |
| Rate-and-term leverage | Up to 80% LTV on some programs | Varies | Not built for a long-term refinance |
| LLC borrowers | Standard | Varies | Common |
| Loan size | From $150,000, no stated maximum | Varies by institution | Varies |
| Where they lend | All of Delaware, plus all 50 states and DC | Often a local footprint | Often local |
Delaware property taxes are low compared with its neighbors. The state's counties recently completed court-ordered reassessments after decades on old values, and many bills shifted. Use the current bill, not an older one from the listing.
The realty transfer tax is charged on sales, typically split between buyer and seller, and does not apply to a refinance. Near the coast and the Delaware Bay, flood zones and wind exposure affect insurance, so pull the flood map and a quote early.
This example is illustrative and not a quote. A Dover investor refinances a leased single-family home out of a hard money loan. Rent is $2,150. The payoff is $225,000, and $6,000 of costs rolls into a new loan of $231,000, about 75% of the $310,000 value. Estimated principal and interest over 30 years is about $1,537. With $130 in taxes and $110 in insurance, the payment is about $1,777, for a DSCR of about 1.21x.
| Item | Amount |
|---|---|
| Current loan payoff | $225,000 |
| Closing costs rolled in | $6,000 |
| New DSCR loan | $231,000 |
| Appraised value | $310,000 |
| Loan-to-value | About 75% |
| Estimated principal and interest | About $1,537 |
| Taxes, insurance | $240 |
| Total monthly payment | About $1,777 |
| DSCR at $2,150 rent | About 1.21x |
If you just need to retire the current loan, rate-and-term is usually the simpler path. Our programs reach up to 80% LTV on some files, versus 75% for cash-out. If you also want equity back, compare the two side by side.
Seasoning requirements vary by program, and they matter most when the property's value has risen since purchase. We tell you up front which value we can use.
One practical tip: ask your current lender for a written payoff statement early, and check whether it charges an extension fee if the loan runs past maturity. Knowing both dates keeps the refinance on schedule.
Wilmington and several other Delaware towns require rental licenses or registration, and some require inspections. Beach towns in Sussex County license rentals and collect lodging taxes on short stays. Check with the city or town before you close.
Where short-term rentals are allowed, some of our programs qualify on projected short-term revenue. Otherwise, the refinance is underwritten on a long-term lease.
A good refinance lender answers these clearly and up front. Here are the questions, followed by our answers.
Send the address, payoff, maturity date, rent and current tax bill. We will size the loan and come back with options. Use the form below or call (877) 298-1001.
Our top pick is LendingStreet. We refinance 1-8 unit Delaware rentals on rent, with no tax returns, up to 80% LTV on some programs and LLC borrowing as standard.
Yes. We lend throughout Delaware, including Wilmington, Newark, Dover and Sussex County, and in all 50 states and DC.
No. The realty transfer tax applies to sales. A refinance still has recording and title costs.
Many bills changed after the recent county reassessments. Use your current bill in the ratio.
Yes, if it is non-owner-occupied. Some programs qualify on projected short-term revenue where local rules allow.
Wilmington requires rental licensing. Have it current before closing.
Up to 80% LTV on some programs, from $150,000 with no stated maximum.
The minimum is 620.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
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