Question 1

Can I use projected rent on a vacant property for DSCR approval?

Accepted Answer

Yes, lenders accept rent estimates from licensed appraisers. The appraiser compares similar rentals in El Centro to establish market rent for your property.

Question 2

Do I need to put more down on a second investment property?

Accepted Answer

Most lenders keep it at 25% down regardless of how many rentals you own. After four financed properties, you'll need to work with portfolio lenders instead of Fannie/Freddie.

Question 3

How long before I can refinance an investor loan?

Accepted Answer

Conventional loans require six months of seasoning. DSCR lenders sometimes allow immediate cash-out refi if the property appraises higher than purchase price.

Question 4

What credit score do I need for an investor loan in El Centro?

Accepted Answer

Conventional investor loans start at 680. DSCR programs go as low as 660, but expect higher rates below 680. Anything under 640 pushes you into hard money territory.

Question 5

Can I use a 1031 exchange with an investor loan in Imperial County?

Accepted Answer

Yes, exchange funds work as down payment. Coordinate closing dates carefully with your qualified intermediary to meet 45-day identification and 180-day closing deadlines.

Investor Loans in El Centro: Finance Rental Properties Without W-2 Income Limits