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in Seaside, CA
Seaside investors have two strong non-QM options. Each serves a different strategy.
DSCR loans fit long-term rentals. Hard money fits fast acquisitions and flips.
DSCR loans qualify based on the property's rent income. Your tax returns stay out of it.
Lenders check if monthly rent covers the mortgage payment. Most want a ratio of 1.0 or better.
These are 30-year loans. Rates are fixed or adjustable. They're built for buy-and-hold investors.
Hard money lenders care about the property's value, not your finances. Approval is fast — sometimes days.
Terms are short, usually 6 to 24 months. Rates are high. This is bridge financing, not a long-term hold.
Seaside fix-and-flip investors use hard money to close competitive deals before conventional buyers can act.
DSCR loans are longer term with lower rates. Hard money is faster with much higher rates.
Hard money funds rehab costs. DSCR typically doesn't cover renovation draws.
DSCR requires the property to be rent-ready. Hard money works on distressed assets.
Buying a turnkey rental in Seaside? DSCR is almost always the right call.
Buying distressed property to renovate and sell? Hard money gets you in the door fast.
Some investors use both: hard money to acquire and rehab, then DSCR to refinance and hold.
Generally no. The property needs to be rent-ready. Hard money is the right tool for distressed acquisitions.
Hard money can close in days. DSCR loans typically take 2–4 weeks, similar to a standard mortgage process.
Some do, some don't. The property value drives approval. DSCR lenders care more about your credit profile.
Most lenders want 1.0 or higher — meaning rent covers the full mortgage payment. Some allow below 1.0 with tradeoffs.
Yes. This is a common exit strategy. Once the rehab is done and the property is rented, you refi into DSCR.
DSCR rates are significantly lower than hard money. Rates vary by borrower profile and market conditions.