Question 1

Can I refinance from hard money into a DSCR loan?

Accepted Answer

Yes — and this is a common strategy. Close fast with hard money, stabilize the rental, then refi into a DSCR loan for long-term financing.

Question 2

What credit score do I need for a DSCR loan?

Accepted Answer

Most DSCR lenders want at least a 620. Some go lower, but your rate improves significantly above 700.

Question 3

How fast does hard money close?

Accepted Answer

Experienced hard money lenders can close in 5–10 business days. That speed is the main reason investors pay higher rates.

Question 4

Do DSCR loans require a property to already be rented?

Accepted Answer

Not always. Lenders may use a market rent analysis instead. The property just needs to show it can support the debt.

Question 5

Which loan has lower rates in Monterey County?

Accepted Answer

DSCR loans consistently carry lower rates than hard money. Rates vary by borrower profile and market conditions.

Question 6

Can I use hard money to buy land or a teardown?

Accepted Answer

Some lenders will, but it's deal-specific. Hard money lenders focus on collateral value — a teardown with strong lot value can qualify.

DSCR vs Hard Money Loans in Sand City, CA