Question 1

Can I use DSCR on a property I just bought with hard money?

Accepted Answer

Yes. Once the property is stabilized and renting, you can refinance out of hard money into a DSCR loan. This is a common exit strategy.

Question 2

What credit score do DSCR loans require in Alameda County?

Accepted Answer

Most DSCR lenders want at least a 620 score. Some non-QM products go lower, but rate and terms will reflect it.

Question 3

How fast do hard money loans close?

Accepted Answer

Many hard money lenders close in 5 to 10 business days. Some move faster when the deal is clean and title is clear.

Question 4

Do hard money lenders care about my income?

Accepted Answer

Not primarily. They focus on the property's value and your exit plan. Some may verify liquidity, but income docs rarely drive the decision.

Question 5

Which loan works better for Newark multifamily properties?

Accepted Answer

DSCR fits multifamily well if rents support the ratio. Hard money works for value-add plays before stabilization.

Question 6

Can I get a 30-year term on a hard money loan?

Accepted Answer

No. Hard money is short-term by design. For a 30-year hold, a DSCR loan is the right structure.

DSCR vs Hard Money Loans in Newark, CA