Boise-area values climbed fast between 2020 and 2022, so investors who bought earlier hold real equity. Rents did not rise as much as prices, which means the ratio after cash-out, not the appraisal, usually decides how much you can take.
In short: LendingStreet offers DSCR cash-out refinances on Boise-area investment properties with 1-8 units, up to 75% of appraised value. The loan qualifies on rent, not W-2s or tax returns, starts at $150,000 and needs a 620 credit score, and the rent has to cover the new payment at 1.0x on standard programs. In the Boise area, the ratio at the new payment, annual Ada and Canyon County assessments and HOA leasing rules are the local items to check.
A cash-out refinance replaces your current mortgage with a larger one and hands you the difference at closing. The new loan can reach 75% of appraised value, and no W-2s or tax returns are needed because the loan qualifies on the property's rent.
The test is simple: monthly rent divided by the full new payment, which covers principal, interest, taxes, insurance and HOA dues. Standard programs need 1.0x or better at the new loan amount, and sub-1.0 programs exist for some properties.
Common uses include the down payment on the next rental, renovation budgets on other properties, paying off short-term bridge or rehab debt and building reserves for the portfolio.
In Boise, the North End, the Bench, East End and the neighborhoods near Boise State have older homes and steady tenants. Garden City offers a mix of older homes and new infill.
Meridian, Eagle, Kuna and Star in Ada County, and Nampa and Caldwell in Canyon County, have large numbers of newer single-family homes, many in subdivisions with HOAs. Canyon County prices are generally lower, which often makes the ratio easier to meet.
Duplexes and small multi-unit buildings, more common in Boise, Garden City and Nampa than in the newer suburbs, often produce better ratios than single-family homes because rent from two or more units covers one payment.
Idaho counties assess property at market value each year, so rising values flow into the bill quickly. The homeowner's exemption only applies to a primary residence, so a rental bought from an owner-occupant loses it.
Taxes in Ada and Canyon counties are moderate compared with many states. Use the current assessment notice and bill, and remember that a new-build in a growing area may not yet have a full tax bill.
Some newer Treasure Valley subdivisions also have local improvement district or HOA charges. Include them in the payment.
Many Treasure Valley rentals are newer homes with lower insurance premiums and few condition issues. HOA covenants are the bigger question: some subdivisions restrict leasing or set minimum lease terms, and HOA dues count in the payment.
Wildfire risk on the foothills edge and winter weather affect some insurance quotes. Get a current quote before applying.
Older homes in the North End and the Bench can have original wiring, plumbing or foundations that appraisers note, and some sit on slopes near the foothills.
Idaho law prevents cities and counties from banning short-term rentals outright, while allowing reasonable regulation such as registration and safety rules. HOAs, however, can still restrict them. Check both city requirements and your covenants.
Where nightly rentals are allowed, our short-term rental programs can qualify on projected revenue on some programs. Most Boise-area cash-out files use 12-month leases.
Ada County and Canyon County each have their own landlord-tenant practices, but Idaho has no rent control, and leases follow state law.
This example is illustrative and not a quote. An investor owns a Meridian house that appraises at $520,000 with an existing payoff of $260,000. Rent is $2,600 a month, taxes are $270 a month and insurance is $90.
At 75% LTV the new loan is $390,000, which leaves about $130,000 after the $260,000 payoff, before closing costs. Estimated principal and interest on a 30-year schedule is about $2,727, so the total payment is about $3,087 and the DSCR is about 0.84x, below the 1.0x standard minimum. At 60% LTV the loan is $312,000, the payment drops to about $2,542 and the DSCR is about 1.02x, with about $52,000 in cash before closing costs.
Before settling on a cash amount, test the ratio at two or three loan sizes. The cash difference between them is often smaller than investors expect, while the extra cushion helps when taxes or insurance rise.
| Item | At 75% LTV | At 60% LTV |
|---|---|---|
| Appraised value | $520,000 | $520,000 |
| New loan amount | $390,000 | $312,000 |
| Existing loan payoff | $260,000 | $260,000 |
| Cash before closing costs | $130,000 | $52,000 |
| Estimated principal and interest | About $2,727 | About $2,182 |
| Taxes and insurance | $360 | $360 |
| Total monthly payment | About $3,087 | About $2,542 |
| DSCR at $2,600 rent | About 0.84x | About 1.02x |
Idaho has no real estate transfer tax and no mortgage recording tax, so refinance costs are mostly title insurance, recording, the appraisal and lender fees. Your term sheet will itemize them.
Idaho is a title-and-escrow state, so an escrow company typically handles signing and recording.
How long you have owned the property affects the loan. Seasoning requirements vary by program, so share your purchase date and any renovation costs up front.
Pull these together before you apply.
Our investor loans are business-purpose loans on non-owner-occupied property. Tell us the address, rent, payoff and the cash you need, and we will check the ratio with realistic Ada County taxes and insurance before ordering an appraisal.
If the full 75% does not fit, we will show what does, including sub-1.0 programs. Get a quote with the form below or call (877) 298-1001, and see our Idaho cash-out page for statewide details.
Because rents have not kept pace with values. At 75% the payment can exceed the rent, so a smaller loan or a sub-1.0 DSCR program is often needed.
Idaho law bars outright bans, but cities can regulate and HOAs can restrict. Check both before relying on nightly income.
None. The rent qualifies the loan. Expect a credit check, a 620 minimum score, reserves and LLC documents if applicable.
You can take a smaller loan, or a sub-1.0 DSCR program may fit on some properties. We will show both options.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
Yes. We finance 1-8 unit rentals in Canyon County, Ada County and across Idaho, with loans starting at $150,000.
A refinance does not trigger reassessment. Idaho assesses annually, so taxes move with market value either way.
Yes, if the HOA allows leasing. HOA dues count in the payment, so include them when you estimate the ratio.
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