Question 1

Can I use rental income to qualify for an investor loan in Monterey?

Accepted Answer

Yes — DSCR loans qualify you on the property's rent, not your personal income. Short-term rental income may also count with the right lender.

Question 2

What down payment do investor loans require?

Accepted Answer

Most programs require 20-25% down. Some hard money lenders go lower but charge higher rates. Rates vary by borrower profile and market conditions.

Question 3

Do Monterey's STR rules affect which loan I can get?

Accepted Answer

They can. Some lenders won't fund a property without an active STR permit. Confirm your permit status before applying.

Question 4

How fast can a hard money loan close in Monterey?

Accepted Answer

Hard money loans can close in 7-14 days in many cases. Speed depends on the lender, title, and property condition.

Question 5

What credit score do I need for a DSCR loan?

Accepted Answer

Most DSCR lenders start at 620. You'll get meaningfully better pricing at 700 or above.

Question 6

Can I get an investor loan on a Monterey vacation property?

Accepted Answer

Yes. Vacation rentals qualify under several non-QM programs. The property's income history or projected rents drive the underwrite.

Investor Loans in Monterey, CA