Question 1

Can I use a DSCR loan for my first investment property in Wasco?

Accepted Answer

Yes, DSCR loans work for first-time investors. You don't need previous landlord experience. The property's rental income determines qualification, not your investment history.

Question 2

What rental income do lenders use for DSCR calculations?

Accepted Answer

Lenders typically use a market rent analysis from a licensed appraiser or property management company. Some accept current lease agreements if the property has existing tenants.

Question 3

How long does DSCR loan approval take in Wasco?

Accepted Answer

Most DSCR loans close in 21-30 days. The process moves faster than traditional mortgages because there's no employment or income verification to complete.

Question 4

Can I use DSCR loans for fix-and-flip projects?

Accepted Answer

DSCR loans are designed for rental properties you'll hold long-term. For fix-and-flip projects, hard money or bridge loans work better for short-term strategies.

Question 5

What happens if my DSCR is below 1.0?

Accepted Answer

Some lenders accept DSCR as low as 0.75 with larger down payments or cash reserves. However, rates increase and approval becomes more challenging below 1.0.

DSCR Loans in Wasco: Income Property Financing That Works for Investors