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Investor Loans in San Dimas
San Dimas sits in eastern Los Angeles County where investor activity centers on single-family rentals and small multifamily properties. Proximity to Cal Poly Pomona drives steady rental demand from students and faculty.
Most investor loans here don't require personal income verification. Lenders focus on the property's cash flow potential instead of your tax returns or pay stubs.
You'll compete with both traditional buyers and other investors. Cash offers still dominate, but investor financing with 20-25% down closes deals conventional buyers can't match.
DSCR loans are the workhorse for San Dimas investors. Minimum 620 credit, 20% down, and the property's rent must cover 1.0x to 1.25x the mortgage payment.
Most lenders cap you at 10 financed investment properties. Some portfolio lenders go higher but charge rate premiums for properties 5-10.
Fix-and-flip buyers use hard money or bridge loans with higher rates but faster approvals. Expect 2-3 point origination fees and 12-month terms.
We access 30+ non-QM lenders specializing in investor loans. Rate spreads between best and worst pricing run 1.5-2 points on identical scenarios.
Some lenders price San Dimas the same as coastal LA markets. Others recognize eastern LA County carries lower property values and adjust pricing favorably.
Portfolio lenders beat bank statement and DSCR programs when you own 5+ properties. They'll also finance properties needing light rehab that conventional investor lenders reject.
San Dimas investors often overpay by defaulting to their bank's portfolio loan program. Banks typically price 0.75-1.25 points higher than specialized DSCR lenders.
The appraisal determines your rental income assumption. Push back if comparables pull from Pomona or La Verne instead of San Dimas proper—rent comps vary significantly.
New investors mistake pre-approval for commitment. Investor loan underwriting hinges on the property, not just your profile. Lock terms only after you're in contract.
DSCR loans beat bank statement loans when rental income exceeds 1.25x the payment. Bank statement works better if you're self-employed and this property tips coverage below 1.0x.
Hard money makes sense for rehab projects under 9 months. Bridge loans fit investors selling one property while buying another—rates run 200-300 bps higher than DSCR but approval takes days.
Interest-only options lower monthly payments but require 25-30% down. Works for fix-and-flip or when you plan significant rent increases within 24 months.
San Dimas rental rates depend heavily on school district proximity and commute access. Properties near the 57 and 210 interchange command premium rents from Claremont and Pomona commuters.
HOA restrictions in newer developments often prohibit short-term rentals. Verify CC&Rs before closing—violation fines run $500-1,000 per incident in some complexes.
LA County transfer taxes add 0.45% to acquisition costs. San Dimas doesn't impose additional city transfer taxes, keeping closing costs lower than Pasadena or Long Beach.
Rent control doesn't apply in San Dimas, but California's AB 1482 caps annual increases at 5% plus CPI. Factor this into your cash flow projections for underperforming properties.
No legitimate investor loan offers zero down. Hard money requires 25-30% minimum, DSCR programs need 20-25%, and portfolio lenders rarely go below 20% on investment properties.
Most DSCR lenders allow individual or LLC ownership. Hard money lenders often prefer LLC for liability protection but don't require it for approval.
DSCR loans close in 15-21 days with clean appraisals. Hard money closes in 5-10 days but costs 3-5 points more in fees and carries higher rates.
Lenders use the appraiser's rent schedule based on comparable rentals. Existing leases work if current and arm's-length, but appraisal rent prevails if higher.
DSCR lenders require properties in rentable condition. Hard money or bridge loans finance properties needing rehab, with loan amounts based on after-repair value.
Yes. Most lenders require 6 months PITI reserves per financed property, though portfolio lenders sometimes waive this for experienced investors with strong credit.
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.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
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.
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.