Loading
DSCR Loans in Long Beach
Long Beach rental properties qualify for DSCR loans when monthly rent covers the mortgage payment. Multi-unit buildings near the port and beach neighborhoods work especially well.
Investors add properties here without reporting W-2 income or explaining 1099 deductions. The rent determines approval, not your tax returns.
You need a 620 minimum credit score and 20-25% down. The property's monthly rent must cover at least 100% of the mortgage payment (DSCR of 1.0).
Higher ratios get better rates. A property with rent at 125% of the payment qualifies at lower pricing than one barely breaking even.
Most DSCR lenders cap loans at $2-3 million in Long Beach. A few go higher for strong rental properties with long-term leases already in place.
Non-QM lenders price these deals differently. Shopping across 200+ sources typically saves 0.25-0.75% on rate or gets you better prepayment terms.
Properties with existing tenants close faster than vacant units. Lenders use current leases to calculate DSCR, not projected market rent.
Long Beach investors often pair DSCR loans with 1031 exchanges. You can close without showing employment history or explaining business write-offs.
DSCR loans cost 0.5-1.5% more than conventional investor loans. You pay for the flexibility of no tax returns and unlimited properties.
Hard money costs more but closes faster. Bank statement loans verify income differently but still require documentation. DSCR only checks the rent roll.
Long Beach rent control laws affect certain properties built before 1978. Lenders verify exemptions before approving DSCR loans on older buildings.
Coastal properties with short-term rental potential need different calculations. Most DSCR lenders require 12-month leases, not vacation rental projections.
Most lenders require an appraisal with market rent analysis. A few accept this for vacant units, but rates run higher than properties with leases in place.
Yes, up to four units using residential DSCR programs. Larger buildings need commercial financing with different terms and structure.
Monthly rent divided by monthly payment (principal, interest, taxes, insurance, HOA). A $3,000 rent with a $2,400 payment gives you a 1.25 DSCR.
Yes, if you have an existing rental property. The process works like a purchase: approval depends on current rent versus new payment.
Some lenders offer renovation DSCR loans with funds held in escrow. You draw money for improvements, then refinance based on the completed rent.
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.