Free calculator
BRRRR calculator
Buy, rehab, rent, refinance, repeat. This BRRRR calculator follows the money through both loans: the hard money loan that buys and renovates the property, and the DSCR cash-out refinance that pays it off. It shows the cash you get back, the cash left in the deal, your cash flow, and what happens if the appraisal comes in low.
Phase 1: buy and rehab with hard money
Phase 2: refinance into a DSCR loan
If the appraisal comes in low
Illustrative estimate from the numbers you entered. Not an offer or commitment to lend; actual terms are set by the lender after underwriting. Business-purpose loans on non-owner-occupied investment property only.
Next step
Want real terms on both loans?
Send the deal and a person reads it. Your calculator numbers are copied into the form, so there is nothing to retype. If it is a deal the lenders in our network can do, you get an indicative range and a list of what they need. If it is not, we tell you quickly.
- No application fee, no upfront fee, no obligation.
- Business-purpose loans only: investment property held in an LLC or other entity, never owner-occupied.
- Programs available in 40 states.
Easy Lending USA is not a lender or a mortgage broker. We introduce real estate investors to independent private lenders, who make every credit decision.
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How the BRRRR calculator works
Phase 1, buy and rehab. A hard money loan funds the purchase and the rehab, sized on the lower of your loan-to-cost and loan-to-ARV limits. You pay the down payment, points, fees and closing costs, then interest and holding costs every month until the refinance.
Phase 2, refinance. A DSCR cash-out refinance replaces the hard money loan. The new loan is the lower of two numbers:
Refinance loan = lower of (cash-out LTV × appraised value) and (the largest loan the rent supports at the minimum DSCR) Cash back at the refinance = refinance loan − hard money payoff − refinance closing costs Cash left in the deal = cash you put in during phase 1 − cash back at the refinance
If the refinance loan is smaller than the hard money payoff, the calculator flags the shortfall: that is the cash you would have to bring to the refinance closing.
Seasoning: when the appraisal counts
Many lenders will only size a cash-out refinance on the new appraised value once you have owned the property for a set time, often six months. Refinance earlier and the loan may be sized on what you paid plus the documented rehab instead. Enter your lender’s seasoning period and the month you plan to refinance, and the calculator uses the right basis. See DSCR cash-out refinance for how the program handles it.
Plan for a low appraisal
The appraisal is the number BRRRR investors control least. The table under the results reruns the refinance at the ARV and at 5%, 10% and 15% below it, so you can see how much cash stays in the deal in each case before you buy.
Worked example
A $150,000 purchase with a $45,000 rehab, a $250,000 ARV and $2,100 a month of rent. The hard money loan is $165,750 (85% of cost). After six months, a 75% cash-out refinance on the $250,000 appraisal is $187,500, which the rent supports at a 1.25 DSCR. That pays off the hard money loan, covers about $5,600 of closing costs and returns about $16,100. Roughly $31,200 of the cash put in stays in the deal, and the property cash-flows about $107 a month after a 15% allowance for vacancy, management and repairs. Illustrative numbers only.
BRRRR calculator questions
How do you calculate a BRRRR deal?
Add up the cash you put in to buy and rehab the property, including interest and holding costs. Then work out the refinance loan, the lower of the cash-out LTV on the appraisal and what the rent supports at the lender’s minimum DSCR. Subtract the hard money payoff and refinance costs to get your cash back. Whatever you put in and did not get back is the cash left in the deal.
Will my refinance pay off my hard money loan?
Only if the refinance loan, after closing costs, is at least the hard money payoff. That depends on the appraisal, the cash-out LTV, the rent and the seasoning rule. The calculator flags a shortfall in red.
What LTV can I get on a BRRRR cash-out refinance?
DSCR cash-out refinances commonly go up to 70–75% of the appraised value, depending on credit, loan size and DSCR. Rate-and-term refinances can go higher.
What is seasoning on a cash-out refinance?
The time you must own the property before the lender uses the new appraised value instead of your purchase price plus rehab. Six months is common.
What does an infinite return mean in BRRRR?
If the refinance returns all the cash you put in, you have none left in the deal, so any cash flow is a return on zero invested. The calculator shows this as All cash back.
Does Easy Lending USA charge a fee to look at my deal?
No. There is no application, processing or upfront fee of any kind. We are paid by the lender only when a loan closes.
More investor calculators
Check the rental on its own with the DSCR calculator, or price the acquisition loan in detail with the hard money loan calculator. Not sure whether to keep or sell? Read fix and flip vs BRRRR. All tools are on the calculators page.
Results are illustrative estimates based on the numbers you enter. They are not an offer or commitment to lend. Actual loan amounts, rates and terms are set by the lender after underwriting. Easy Lending USA is not a lender or a mortgage broker; we introduce real estate investors to independent private lenders. Business-purpose loans on non-owner-occupied investment property only.