Question 1

Can I use DSCR loans for properties that need renovation?

Accepted Answer

Most DSCR lenders require the property to be rent-ready at closing. Hard money works better for fixer properties, then you refinance to DSCR.

Question 2

Do hard money lenders check credit scores?

Accepted Answer

They review credit but prioritize equity and exit strategy. Scores below 600 still get approved if you bring enough down payment.

Question 3

What DSCR ratio do I need in La Cañada Flintridge?

Accepted Answer

Most lenders want 1.0 minimum, meaning rent covers the full mortgage payment. Higher ratios unlock better rates and terms.

Question 4

How long can I keep a hard money loan open?

Accepted Answer

Typical terms run 12 months with options to extend. You pay monthly interest-only, then the full principal at maturity or sale.

Question 5

Which loan works for short-term rentals in La Cañada Flintridge?

Accepted Answer

DSCR works if you can document projected rental income from similar properties. Some lenders count vacation rental income with strong booking history.

DSCR Loans vs Hard Money Loans in La Cañada Flintridge: Which Works for Your Investment Property?