Question 1

Can I use short-term rental income for a DSCR loan in Big Bear Lake?

Accepted Answer

Yes. Many lenders accept projected or actual STR income. Some use Airbnb revenue history; others use a market rent appraisal.

Question 2

How fast does a hard money loan close?

Accepted Answer

Often 5–10 business days. Speed depends on the lender and how quickly title clears.

Question 3

What credit score do I need for a DSCR loan?

Accepted Answer

Most lenders require at least 620. Better scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

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

Accepted Answer

Yes — this is a common strategy. Once the property is renovated and renting, a DSCR refi pays off the hard money loan.

Question 5

Do hard money lenders care about my credit score?

Accepted Answer

Less than conventional lenders. Most focus on the property's after-repair value. Some have minimum score requirements around 550–600.

Question 6

Which loan has lower rates — DSCR or hard money?

Accepted Answer

DSCR rates are significantly lower. Hard money rates reflect the short-term risk lenders take. Rates vary by borrower profile and market conditions.

DSCR vs Hard Money Loans in Big Bear Lake