Loan Scenario:

American Heritage Lending backed a newer investor with a $327,324 DSCR rate-and-term refinance on a single-family detached home in Westerville, Ohio, stabilizing the financing on a buy-and-hold rental. The property appraised at $459,000, so the loan closed at 71.312% loan-to-value on a 40-year interest-only term. The rent covers the note at a 1.072 DSCR, coverage that clears the debt on a structure built to keep the monthly payment low.

That lower payment is the point of the 40-year interest-only term: it maximizes cash flow while a newer investor builds a portfolio, and qualification came from the property’s rental income rather than the borrower’s personal earnings, so there were no tax returns or work papers to assemble. A rate-and-term refinance simply resets the terms on an asset the investor intends to keep.

Westerville is an affluent suburb on the northeast side of Columbus, spanning Franklin and Delaware counties, and it draws tenants from one of the Midwest’s strongest job markets. The city is home to the headquarters of Vertiv and DHL Supply Chain, along with Otterbein University, and it sits within reach of the Columbus metro’s broader boom — including Intel’s semiconductor campus taking shape in nearby New Albany. Highly rated schools and a walkable historic Uptown keep demand for single-family rentals steady among families and professionals. Once known as a dry town, the city has grown into one of Columbus’s most sought-after suburbs, and its parks and access along I-270 add to the appeal. Housing here commands a premium over much of central Ohio, but the depth of the surrounding job base keeps well-located rentals occupied.

Overall, this deal shows how American Heritage Lending backs investors with practical DSCR financing. Measured leverage, income-qualified underwriting, and a cash-flow-friendly structure give the borrower a clean path to hold a premium suburban rental in a growing metro.

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