Question 1

Can I use DSCR for a property that needs renovation?

Accepted Answer

Most DSCR lenders require the property to be rent-ready. If it needs work, start with hard money to fund repairs, then refinance into DSCR.

Question 2

How quickly can hard money close in Novato?

Accepted Answer

Most hard money loans close in 7 to 14 days. Some lenders can fund in 5 days if you have all documents ready.

Question 3

What credit score do I need for hard money?

Accepted Answer

Hard money lenders typically accept 600+ credit scores. Some go lower if the deal and down payment are strong enough.

Question 4

Can I convert a hard money loan to DSCR?

Accepted Answer

Yes, most investors refinance from hard money into DSCR once renovations are done and the property generates rental income. This is standard strategy.

Question 5

Which loan has lower monthly payments?

Accepted Answer

DSCR loans have much lower monthly payments due to 30-year terms and lower rates. Hard money payments are higher but temporary.

DSCR Loans vs Hard Money Loans in Novato: Which Investor Loan Fits Your Deal?