Fayetteville's rental market is built around Fort Bragg, one of the largest military installations in the country. Investors with homes in Hope Mills, Jack Britt or Spring Lake can use a DSCR cash-out refinance to pull equity based on the rent, with no tax returns.
In short: Yes. LendingStreet can refinance a Fayetteville rental with 1-8 units and pay you cash up to 75% LTV, qualifying on the property's rent with no tax returns required. Loans start at $150,000, the minimum credit score is 620 and standard programs need a DSCR of at least 1.0x after the cash-out. In Fayetteville, military tenant turnover, Cumberland County's revaluation and HOA leasing rules are the local items to check.
With a DSCR cash-out refinance, a new loan of up to 75% of the appraised value pays off the old one, and the remaining equity comes to you as cash. Income documents are not part of the file; the rent is.
Underwriting divides rent by the new payment, counting principal, interest, taxes, insurance and any association dues. Because cash-out raises the balance, the ratio drops, and it has to stay at or above the program minimum, 1.0x on standard programs.
Investors use the proceeds to buy another property, fund repairs elsewhere, retire a short-term rehab loan or set aside reserves. The cash comes at closing in one lump sum.
Fort Bragg, renamed Fort Liberty in 2023 and given back the Bragg name in 2025, drives steady demand from soldiers, families and civilian staff. Rentals cluster in Hope Mills, the Jack Britt area, Gray's Creek, Spring Lake, Raeford in Hoke County and the western side of Fayetteville.
Haymount and the Terry Sanford area have older homes near downtown, while Bonnie Doone and areas along Bragg Boulevard carry lower prices. Newer subdivisions near the base often have HOAs.
Military housing allowances help support rents near the base, and turnover is steady, so many investors here hold several properties.
North Carolina counties revalue on cycles of up to eight years, and Cumberland County uses a shorter cycle. Combined county, city and fire district rates are moderate, which helps the ratio.
Use the current tax bill, including the city portion if the property is inside Fayetteville, and check whether a revaluation is coming.
Fire district taxes apply outside city limits in parts of Cumberland County. Include them in the payment.
Much of the rental stock near the base is newer single-family housing with modest insurance costs. Older in-town homes may have dated systems that appraisers note.
Hurricanes and tropical storms have flooded parts of Cumberland County along the Cape Fear River and its tributaries. Check the flood map and get a current insurance quote.
Some subdivisions near the base were built quickly, so check for roof and siding issues.
Federal law lets servicemembers end a lease early on permanent change of station or deployment orders. In Fayetteville that is a normal part of owning rentals, so keep reserves for turnover and vacancy.
Many newer subdivisions have HOAs that limit leasing or set minimum lease terms. Read the covenants before you refinance.
North Carolina has no local rent control, and Fayetteville does not require registration for most long-term rentals, but code enforcement can act on complaints.
This example is illustrative and not a quote. An investor owns a Hope Mills house leased to a military family. It appraises at $250,000 with an existing payoff of $120,000. Rent is $1,750 a month, taxes are $220 a month and insurance is $110.
At 75% LTV the new loan is $187,500, which leaves about $67,500 after the $120,000 payoff, before closing costs. Estimated principal and interest on a 30-year schedule is about $1,311, so the total payment is about $1,641 and the DSCR is about 1.07x, above the 1.0x standard minimum.
On many programs the appraiser's market rent estimate is weighed against the lease, so a lease well above market may not count in full. Use current tax and insurance figures, not last year's, when you test your own numbers.
| Item | At 75% LTV |
|---|---|
| Appraised value | $250,000 |
| New loan amount | $187,500 |
| Existing loan payoff | $120,000 |
| Cash before closing costs | $67,500 |
| Estimated principal and interest | About $1,311 |
| Taxes and insurance | $330 |
| Total monthly payment | About $1,641 |
| DSCR at $1,750 rent | About 1.07x |
North Carolina's excise tax applies to deed transfers, not refinances, and there is no mortgage recording tax. Closings are handled by an attorney, so expect attorney fees along with title and recording costs.
Seasoning rules vary by program: some allow a cash-out soon after purchase, while others want several months of ownership or limit the loan to cost plus documented improvements.
Having these ready shortens the time from application to closing.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the address, estimated value, payoff, rent and how much cash you want, and we will run the ratio at a few loan amounts using realistic taxes and insurance for Cumberland County.
You will get options showing the cash available at each loan size, including sub-1.0 DSCR programs where they fit. Call (877) 298-1001 or use the form below to get a quote. For statewide rules, see our North Carolina cash-out page.
Yes. Military leases count like any other. Federal law allows early termination on orders, so plan for turnover.
A revaluation can raise both value and taxes. Use the current bill and watch for upcoming changes.
Up to 75% of the appraised value, minus your payoff and closing costs. The rent also has to cover the new payment at the program minimum, which can limit the amount.
It depends on the program. Some lend on the new appraised value quickly, while others look back to the purchase price and improvement costs for the first months.
No. The loan qualifies on the property's rent. You still need a 620 or higher credit score, reserves and entity documents if the property is in an LLC.
Yes. We finance 1-8 unit rentals in Hoke, Cumberland and Harnett counties and across North Carolina.
Up to 75% of appraised value minus payoff and costs, as long as the rent covers the new payment at the program minimum.
Yes. Spring Lake rentals qualify on leases or market rent, with loans starting at $150,000.
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