Loan Scenario:

An investor who already owns a primary residence alongside several rental holdings came to American Heritage Lending looking to unlock the equity in a single-family rental in Elmira, New York. Rather than let that trapped equity sit idle, they wanted cash in hand to keep building their portfolio, and a DSCR loan was the natural fit because qualification rested on the property’s own rental income rather than personal tax returns.

The numbers made for a clean, low-risk file. Against an appraised value of $150,000, we structured a $112,000 cash-out refinance at 75% LTV on a 30-year term, and the property’s strong debt-service coverage ratio of 1.435 confirmed that the rent comfortably covered the new payment with room to spare. For a newer investor, that kind of cushion is exactly what turns a single rental into a repeatable strategy.

Elmira sits in New York’s Southern Tier along the Chemung River, a market where approachable price points and steady tenant demand from the region’s healthcare, education, and manufacturing employers make single-family rentals a dependable hold. Affordable entry values like this one let investors capture healthy coverage ratios without the premium pricing of downstate metros.

The result was a well-qualified borrower walking away with liquidity to redeploy and a rental that continues to pay for itself. If you own investment property in New York and want to put your equity back to work, our team can help you explore financing built around the numbers that matter.

Similar Recently Funded Case Studies: DSCR Loan in Rochester, NY  •  DSCR Loan in New Harford, NY  •  DSCR Loan in Staten Island, NY

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