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DSCR Loans in Susanville
Susanville's rental market runs on workforce housing — prisons, lumber, and government jobs create steady tenant demand. Most investors here chase single-family rentals and small multi-units near downtown.
DSCR loans work well in this market because conventional lenders often reject Lassen County properties due to low volume. Rental income from $1,200-$1,800 monthly rents typically covers loan payments on properties under $300K.
You won't compete with as many cash buyers here as in bigger California markets. That gives DSCR borrowers leverage to close deals that local portfolio lenders might skip.
You need a DSCR of 1.0 or higher — meaning monthly rent covers the full mortgage payment including taxes and insurance. Most Susanville properties hit this if you put 25% down.
Lenders don't verify employment or tax returns. They order an appraisal with a rent schedule showing market rent for the property. Your credit score needs to be 620 minimum, though 680+ gets better rates.
Expect 20-25% down for single-family rentals. Multi-units under four doors need 25-30% down. You can close in your LLC name from day one.
Big banks don't touch Susanville investment properties — the market's too small for their underwriting boxes. DSCR lenders specialize in rural rental markets like Lassen County.
We shop 30+ DSCR lenders who price rural California deals differently. Some cap loan amounts at $500K in small counties. Others charge higher rates for properties outside major metros.
Rate spreads between lenders run 0.75-1.5% on the same Susanville property. Shopping matters more here than in competitive markets where pricing compresses.
Most Susanville DSCR deals I see involve investors buying turnkey rentals with tenants already in place. That makes the appraisal easier since you have actual lease agreements, not just market rent estimates.
Watch for deferred maintenance on older properties near downtown. Lenders require the property to be rent-ready at closing. Budget $5K-$15K for repairs if you're buying a fixer that needs work before tenants move in.
If the DSCR comes in at 0.95 instead of 1.0, you have options. Increase your down payment, buy down the rate, or switch to a bank statement loan that uses your personal income plus rental income combined.
Conventional investment loans require two years of tax returns and debt-to-income under 45%. That disqualifies most active investors in Susanville who already own rentals or run businesses showing low taxable income.
Hard money works for quick closings but costs 9-12% with points. DSCR rates run 7-8.5% with no points, making them cheaper for holds longer than 12 months.
Bank statement loans let you use personal bank deposits to qualify, but they need 12-24 months of statements. DSCR ignores your personal finances entirely — just the property's rent matters.
Lassen County's prison economy creates stable rental demand but limits appreciation compared to California averages. DSCR investors here focus on cash flow over equity growth.
Appraisers in Susanville pull comps from a small pool of recent sales. If your property is unique or rural, expect longer appraisal timelines — 3-4 weeks instead of 10 days.
Property taxes stay lower than metro California, helping DSCR calculations. Insurance costs more due to wildfire risk zones. Make sure your insurance quote is accurate before finalizing your DSCR calculation.
Yes. The appraiser provides a market rent estimate in the appraisal report. Lenders use that number to calculate your DSCR even with no tenant in place.
Some do. Certain lenders set minimum population thresholds or avoid rural counties. We work with lenders who actively finance Lassen County properties.
You can increase your down payment, buy down the rate with points, or consider a bank statement loan that adds your personal income. Several paths forward.
Expect 30-40 days. The appraisal takes longer here than in metro areas due to fewer active appraisers covering Lassen County.
Yes. You need six months of ownership history minimum. If you have a tenant and lease agreement, that strengthens the file significantly.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.