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in Irwindale, CA
Irwindale's industrial-heavy real estate market attracts investors looking for both long-term rental income and quick flip opportunities. DSCR and hard money loans serve different strategies, but both skip traditional income verification.
DSCR loans work for buy-and-hold investors who want rental cash flow to qualify them. Hard money loans fund fast acquisitions and rehabs when you need capital in days, not weeks.
DSCR loans approve you based on rental income divided by your monthly mortgage payment. If that ratio hits 1.0 or higher, you qualify without showing tax returns or pay stubs.
These are 30-year fixed mortgages designed for investors who plan to hold properties. Rates run 1-2% above conventional loans, with 20-25% down required for most deals.
Hard money loans fund in 5-10 days based on property value alone. Lenders care about after-repair value and your exit strategy, not your credit score or rental income.
Terms run 6-24 months with rates between 9-14%. You'll pay 2-5 points upfront, and most lenders want 10-30% down depending on experience and deal strength.
DSCR loans give you 30 years to pay back. Hard money loans give you 6-24 months before you must refinance or sell. DSCR rates hover around 7-9% while hard money hits 9-14%.
DSCR lenders need rent rolls and property appraisals. Hard money lenders need proof of funds for down payment and renovation budget, plus a clear exit plan. Closing timelines differ drastically—DSCR takes 3-4 weeks, hard money closes in a week.
Choose DSCR if you're buying a property that's already rented or rent-ready. The lower rate and longer term make sense when rental income covers the payment and you want to hold for years.
Pick hard money when speed matters more than rate—competing offers, foreclosure auctions, or major rehabs that won't cash flow until renovations finish. You'll refinance into a DSCR or conventional loan once the property performs.
Yes, that's the standard play for value-add deals. Fix the property, get tenants in place, then refinance into a DSCR loan for long-term hold.
Hard money has looser approval standards since it's based purely on property value. DSCR requires the property to generate enough rent to cover debt service.
Most DSCR lenders accept long-term rental income only. Short-term rental income requires specialized non-QM programs with different underwriting.
DSCR loans typically require 20-25% down. Hard money lenders want 10-30% depending on your experience level and the deal's strength.
DSCR lenders usually want 620+ credit. Hard money lenders care less about credit and more about equity and exit strategy.