Ogden home values have roughly doubled for many owners who bought in the 2010s, while rents have risen more slowly. That gap shapes every cash-out refinance here: the equity is real, but the rent often limits how much of it you can borrow.
In short: LendingStreet's DSCR cash-out refinance lets Ogden-area investors borrow up to 75% of a 1-8 unit rental's appraised value, qualifying on rent instead of tax returns. In Weber County, rent rather than the 75% cap often sets the final amount, because the new payment must clear the program minimum, usually 1.0x. We size the loan to where the ratio works, and sub-1.0 programs can stretch it further.
Investors who bought in Roy, Riverdale, South Ogden or central Ogden years ago often have small balances and large equity. A cash-out refinance replaces the existing loan with a larger one and returns the difference, after costs, as cash.
Common uses include a down payment on the next rental, funding renovations, or paying off a short-term loan on another property.
Because the loan is based on rent, investors who show low taxable income after depreciation can still qualify. You do not need W-2s or tax returns, and the property can stay in your LLC.
This example is illustrative and not a quote. An investor owns a single-family rental in Roy that appraises at $420,000 and owes $150,000. It leases for $2,250 a month. With the residential exemption, taxes are $200 a month; insurance is $120. Closing costs are about $6,000.
At the full 75%, the loan is $315,000 and the payment about $2,469, for a DSCR of about 0.91x, below 1.0x. At 70%, DSCR is about 0.97x. At 65%, the loan is $273,000, the payment about $2,182, DSCR about 1.03x, and the investor still takes home about $117,000.
| LTV | Loan | Estimated principal and interest | Total payment | DSCR | Cash after payoff and costs |
|---|---|---|---|---|---|
| 75% | $315,000 | $2,149 | $2,469 | About 0.91x | $159,000 |
| 70% | $294,000 | $2,006 | $2,326 | About 0.97x | $138,000 |
| 65% | $273,000 | $1,862 | $2,182 | About 1.03x | $117,000 |
In many lower-cost markets, the 75% LTV cap is what limits a cash-out. Along the Wasatch Front, it is often the rent. When values have outpaced rents, the payment on a 75% loan can exceed what the rent supports at 1.0x.
You have options: take a smaller loan, raise rent at lease renewal before refinancing, or use a sub-1.0 DSCR program where it fits. We will show you the numbers at several loan sizes.
Duplexes and fourplexes often do better than single-family homes on this measure, because combined rents tend to be higher relative to value. If you own both, the multi-unit property may be the better one to pull cash from.
Utah taxes primary residential property, which can include a long-term rental that is a tenant's primary residence, at 55% of market value. That keeps the tax line low and helps the ratio. If your property is not receiving the exemption, perhaps because it was a second home or a nightly rental, the tax line will be higher.
Check your tax notice from the Weber County Assessor before refinancing. If the exemption is missing on a long-term rental, ask the assessor how to apply.
If you recently converted a nightly rental to a long-term lease, the exemption may not show up until the next tax year. Ask the assessor what documentation they need, such as a signed lease or a primary residence declaration from the tenant.
Utah does not publish sale prices, so appraisers rely on MLS data and agent reports. That can make values on unusual properties harder to support. Help the appraiser with a list of improvements, dates and costs, and any recent sales you know of from a local agent.
For duplexes and fourplexes, provide current leases so the appraiser can confirm rents.
A local agent's opinion of value is not used for the loan, but asking an agent for recent MLS sales can help you set expectations before the appraisal.
How long you need to own a property before a cash-out refinance varies by program. Some use the current appraised value after a short holding period, especially with a documented rehab; others use your cost basis for a time. Our DSCR cash-out seasoning page covers the common rules.
If you just finished a rehab and want your cash back, tell us the purchase date, price and rehab spend so we can match the right program.
Many investors use one cash-out to fund the next purchase. Those with five or more rentals can look at a blanket portfolio loan that combines them under one payment, with release provisions when a property sells and qualification on combined cash flow. That can help when individual properties are tight on their own ratio.
Keep part of the cash as reserves. Older Ogden homes can need a furnace, a roof or masonry repairs with little warning.
Utah refinances are usually closed through a title company. There is no state mortgage tax, but you will pay title, recording, appraisal and lender costs, which usually come out of the loan proceeds.
Utah property taxes are billed once a year and due at the end of November. A refinance in the fall may need to pay the current year's bill at closing or collect it for escrow, which reduces the cash you take home. Plan the timing with that in mind.
Our investor loans are business-purpose loans on non-owner-occupied property. Send these through the form below, or call (877) 298-1001.
We will show you the cash available at a few loan sizes.
Up to 75% of appraised value minus payoff and costs, but in Ogden the rent often limits the loan before the 75% cap does.
If the payment on a 75% loan exceeds what the rent supports at the program minimum, the loan has to be smaller, or a sub-1.0 program may fit.
No. The loan qualifies on the property's rent.
Yes, by keeping the tax line low on a long-term rental. Make sure your property receives it.
It varies by program.
Appraisers use MLS data and agent reports. Provide your improvement list and leases.
Yes, up to 75% of value, subject to the rent covering the payment.
Yes. LLC borrowers are standard.
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