Metro Atlanta, Savannah, Augusta and Macon have large single-family rental markets, and many investors there start with hard money or a bridge loan. A DSCR rate-and-term refinance replaces that loan with long-term financing qualified on the rent.
In short: Yes, LendingStreet finances DSCR rate-and-term refinances on 1-8 unit investment properties in Georgia, up to 80% LTV on some programs, qualified on the property's rent with no W-2s or tax returns. The new loan pays off your existing hard money, bridge or higher-rate loan plus closing costs, with only a small amount of cash back allowed on most programs. Our investor loans are business-purpose loans on non-owner-occupied property, starting at $150,000 with a 620 minimum credit score. In Georgia, the intangible recording tax on the new note and the attorney-led closing process are the items to plan for.
In a rate-and-term refinance, the new DSCR loan retires your existing debt and nothing more, apart from closing costs and, on most programs, a small amount of cash back. You are changing the price and shape of the debt, not the amount of equity you hold.
Leverage can reach up to 80% LTV on some programs, compared with up to 75% on a cash-out. The loan qualifies on the property's rent, not your W-2s or tax returns. The ratio of rent to the full new payment, including taxes, insurance and HOA dues, needs to be at least 1.0x on standard programs.
Georgia rental stock leans single-family: brick ranches and split-levels in south and east metro Atlanta, newer subdivisions in Henry, Paulding and Gwinnett counties, and older homes in Macon, Augusta and Columbus. Investors buy, renovate and need to exit short-term debt. Rate-and-term refinances also help investors move off a higher-rate loan into a fixed 30-year payment.
Rate-and-term is also the cleaner choice when the property's rent only modestly exceeds the payment. Adding cash-out raises the balance and lowers the ratio, while a rate-and-term keeps the debt where it is and focuses on better terms.
Short-term loans are interest-only and come due quickly, which works during a rehab but not for a long-term hold. A rate-and-term DSCR refinance replaces that debt once the property is stabilized and leased.
Timing matters. Lenders consider how long you have owned the property when deciding whether to use the new appraised value or your cost basis, and that rule varies by program. Order the appraisal early and keep invoices and receipts for the work you did.
Georgia charges an intangible recording tax on long-term notes secured by real estate, figured on the loan amount with a statewide cap. On a refinance, the tax may be limited to new money in some cases, depending on how the loan is structured, so ask the closing attorney for the figure.
Georgia closings are conducted by attorneys. The state transfer tax applies to deeds, not a standard refinance, but if you are moving title into an LLC at the same time, ask the attorney how it will be treated.
Georgia property taxes are moderate and vary by county. Homestead exemptions apply only to homes the owner lives in, so a rental pays full county and school rates. Use the actual bill on the property.
HOA dues and leasing restrictions are common in newer metro Atlanta subdivisions, and some HOAs cap the number of rentals. Coastal Georgia near Savannah and Brunswick carries wind and flood exposure that can raise insurance costs.
This example is illustrative and not a quote. An investor owns a three-bedroom single-family rental in Stockbridge appraised at $310,000. The existing hard money loan used for the purchase and rehab has a payoff of $228,000, costs about $2,090 a month interest-only and matures in 4 months. Rent is $2,250 a month, and taxes, insurance and any HOA dues run $380 a month.
Rolling about $7,000 of closing costs into the loan gives a new balance of $235,000, or about 75.8% LTV, inside the 80% ceiling some programs allow. On a 30-year term, principal and interest is about $1,603, so the full payment is about $1,983 and the DSCR is about 1.13x. The short-term maturity is gone and the payment is fixed. The rent could fall by about $267 a month before the ratio hit 1.0x.
| Item | Amount |
|---|---|
| Appraised value | $310,000 |
| Existing loan payoff | $228,000 |
| Closing costs rolled in | $7,000 |
| New loan amount | $235,000 |
| Loan-to-value | 75.8% |
| Principal and interest (30 years) | About $1,603 |
| Taxes, insurance and HOA | $380 |
| Total monthly payment | About $1,983 |
| Monthly rent | $2,250 |
| DSCR | About 1.13x |
The two refinances use the same DSCR underwriting, but the limits differ. Here is how they line up on a typical 1-8 unit rental.
If you are unsure which fits, ask for a quote on each. The difference in loan amount, payment and DSCR on the same Georgia property usually makes the choice clear, and the form below can request either.
| Feature | Rate-and-term | Cash-out |
|---|---|---|
| Purpose | Pay off existing loan and costs | Pay off loan and take equity |
| Maximum LTV | Up to 80% on some programs | Up to 75% |
| Cash at closing | Small allowance, varies by program | Up to the LTV limit |
| Minimum DSCR (standard) | 1.0x | 1.0x |
| Minimum credit score | 620 | 620 |
| Income documents | Rent only, no W-2s or tax returns | Rent only, no W-2s or tax returns |
Metro Atlanta, including Stockbridge, McDonough, Douglasville, Lithonia and the Gwinnett suburbs, holds most of the state's single-family rentals. Savannah has strong demand tied to the port and tourism, with STR rules in the historic district. Augusta, Macon, Columbus and Warner Robins offer lower price levels and military-related tenants. Athens draws university renters.
Most delays come from missing paperwork. Pull these together before you request a quote. Call (877) 298-1001 or use the form below to get a quote.
Yes. LendingStreet refinances non-owner-occupied 1-8 unit rentals in Georgia with DSCR loans starting at $150,000, up to 80% LTV on some programs.
Georgia charges an intangible recording tax on long-term notes secured by real estate. On a refinance it may apply only to new money in some cases. The closing attorney can confirm.
Most programs allow a small amount of cash back at closing, but the limit varies. Taking more turns the loan into a cash-out refinance, which has a 75% LTV ceiling.
An HOA does not control the refinance, but leasing restrictions and rental caps can affect whether the property can be leased, which the lender reviews.
Seasoning varies by program. Recently purchased properties may be sized on purchase price plus documented improvements rather than the new appraised value.
No. The refinance qualifies on the property's rent, with a 620 minimum credit score and reserves.
Standard programs need at least 1.0x. Sub-1.0 DSCR programs exist, or you can lower the balance by bringing cash to closing.
No. The loan qualifies on the property's rent, not your personal income. You still need a 620 or higher credit score, reserves and entity documents if the property is in an LLC.
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