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in San Marino, CA
San Marino real estate attracts both primary homebuyers and investors. Conventional loans dominate owner-occupied purchases, while DSCR loans let investors qualify based on rental income alone.
The right choice depends on whether you're buying a residence or an investment property. Most San Marino homebuyers use conventional financing, but investors often prefer DSCR loans to avoid personal income verification.
Conventional loans require W-2s, tax returns, and debt-to-income ratios below 50%. You need 620+ credit for most programs, though 740+ unlocks the best rates.
Down payments start at 3% for primary residences and 15% for investment properties. These loans offer the lowest rates in the market when you qualify with strong income documentation.
Loan limits in Los Angeles County reach $1,249,125 for conforming loans in 2026. Above that threshold, you enter jumbo territory with stricter requirements but still competitive pricing.
DSCR loans skip personal income verification entirely. Underwriters focus on the property's rental income versus the mortgage payment, requiring a ratio of 1.0 or higher.
You need 20-25% down and 660+ credit for most DSCR programs. Rates run 0.5-1.5% higher than conventional, but that premium buys you simplified documentation and faster closings.
These loans work for investors with complex tax returns, multiple properties, or 1099 income. San Marino rental properties often generate strong cash flow, making DSCR qualification straightforward.
Local decision guide
Use this comparison to weigh Conventional Loans and DSCR Loans through local payment fit, eligibility, documentation, and timing before choosing a path in San Marino.
San Marino real estate attracts both primary homebuyers and investors. Conventional loans dominate owner-occupied purchases, while DSCR loans let investors qualify based on rental income alone.
The right choice depends on whether you're buying a residence or an investment property. Most San Marino homebuyers use conventional financing, but investors often prefer DSCR loans to avoid personal income verification.
Conventional loans require W-2s, tax returns, and debt-to-income ratios below 50%. You need 620+ credit for most programs, though 740+ unlocks the best rates.
Conventional loans scrutinize your personal finances—pay stubs, tax returns, W-2s, and every source of income. DSCR lenders only care about rent versus mortgage payment, ignoring what you personally earn.
Rate spreads matter in San Marino's price range. On a $1.5M property, that extra 1% on a DSCR loan costs $15,000 annually. But if your tax returns show heavy write-offs, conventional approval becomes impossible.
Investment property buyers face 15% down conventional versus 20-25% DSCR. Primary residence buyers should stick with conventional—DSCR programs don't allow owner-occupancy.
Buying a San Marino home to live in? Use conventional financing. You'll get lower rates, smaller down payments, and access to programs like HomeReady or Conventional 97.
Buying a rental property with clean W-2 income and low debt ratios? Conventional still wins on pricing. But if you're self-employed, own multiple rentals, or max out tax deductions, DSCR removes documentation headaches.
The math shifts when you own 5+ financed properties. Conventional lenders cap you at 10 total mortgages, while DSCR programs have no portfolio limits. Serious investors eventually need DSCR access to keep scaling.
No. DSCR loans only finance rental properties. Owner-occupants must use conventional, FHA, or other primary residence programs.
Most require 1.0 or higher, meaning rent covers the full mortgage payment. Some programs allow 0.75 ratios with larger down payments and higher rates.
Some do, typically ranging from 6 months to 3 years. Always confirm penalty terms before locking your rate.
Yes. You can refinance from DSCR to conventional anytime you qualify with documented income. Many investors refinance once their tax situation stabilizes.
DSCR often closes quicker since it skips income verification. Conventional timelines depend on how fast you provide pay stubs and tax returns.