Question 1

Can I refinance a hard money loan into a DSCR loan?

Accepted Answer

Yes — this is a common strategy. Get the property rented and stabilized, then refinance into a DSCR loan for long-term hold.

Question 2

What credit score do I need for a DSCR loan?

Accepted Answer

Most DSCR lenders want 660 or higher. Some go lower, but expect tighter terms and higher rates.

Question 3

How fast does hard money close?

Accepted Answer

Fast — often 5 to 10 business days. That speed is the main reason investors pay the higher rate.

Question 4

Do DSCR loans work on short-term rentals?

Accepted Answer

Some lenders accept short-term rental income. You'll need documented rental history or a market rent analysis. Not every lender allows it.

Question 5

Is hard money available for multifamily properties in Monterey County?

Accepted Answer

Yes, hard money lenders typically fund 1–4 unit and small multifamily deals. Terms vary based on the asset and exit strategy.

Question 6

Which loan has lower rates?

Accepted Answer

DSCR rates run significantly lower than hard money. Rates vary by borrower profile and market conditions.

DSCR vs Hard Money Loans in Del Rey Oaks