# Rental cash-out refinance checklist

Use this worksheet to prepare a documented conversation. Replace every estimate with the provider's current written figures before relying on it.

## Property and payoff

- [ ] Property address, occupancy and ownership/entity name
- [ ] Current value estimate and source/date
- [ ] Existing loan payoff quote and expiration date
- [ ] Other liens, prepayment charges, bridge draws, extension fees or taxes due at closing
- [ ] Requested new loan amount and intended use of proceeds

## New payment and net cash

- [ ] Modeled rate, term and amortization (scenario input, not a quote)
- [ ] Annual property taxes
- [ ] Annual insurance
- [ ] Monthly HOA or association dues
- [ ] Points, lender/broker fees, title, appraisal, recording and other closing costs
- [ ] Prepaid interest, escrows and reserves kept after closing
- [ ] New loan minus payoff minus documented costs = estimated net cash

## Rent and DSCR evidence

- [ ] Current lease, appraiser market rent or other supportable rent evidence
- [ ] Provider's method for counting rent and treating vacancy/expenses
- [ ] Gross monthly rent used in the model
- [ ] PITIA (principal + interest + taxes + insurance + HOA)
- [ ] DSCR = gross monthly rent / PITIA
- [ ] Downside case with rent reduced or expenses increased

## Questions for each provider

- [ ] What LTV, DSCR, seasoning, credit and reserve rules apply to this file?
- [ ] Which value and rent evidence will you accept?
- [ ] Are cash-out proceeds, entity title and property type eligible?
- [ ] What is the prepayment structure and all-in fee itemization?
- [ ] Can you provide a dated proceeds worksheet and payoff instructions in writing?

**Reminder:** DSCR is a rent-coverage measure, not a full operating cash-flow result. Repairs, vacancy, management, utilities and capital spending may still affect the investment.