Recently Funded DSCR Loan In Charlotte, North Carolina

Loan Scenario:

We closed a $78,750 DSCR cash-out refinance for an experienced investor on a garden-style condominium in Charlotte, North Carolina. The unit appraised at $105,000, and the loan was structured at 75% loan-to-value on a 30-Year term. With two investment properties already in the portfolio, this borrower used the refinance to free up equity while holding onto a well-located rental in one of the Southeast’s fastest-growing cities.

The file underwrote to the asset, not the borrower’s W-2. A DSCR of 1.492 tells the story cleanly: the rent this condo commands covers the new debt service with close to fifty cents of cushion on every dollar. That is precisely the coverage that makes a cash-out sensible, letting the investor pull working capital out of a stabilized unit and put it back to work.

Charlotte is the second-largest banking center in the country, headquarters to Bank of America and a major East Coast hub for Wells Fargo, and that financial-sector gravity keeps pulling in young professionals. The metro has posted some of the strongest in-migration numbers in the nation, fed by a growing fintech presence, UNC Charlotte, and one of the busiest airline hubs in the world. Renters flock to garden-style condos precisely because they offer an affordable foothold near job centers as for-sale prices climb. That demand backdrop is what gives a rental like this staying power.

Strong coverage, a proven investor, and a market with real tailwinds. A straightforward win.

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