Question 1

Can I use a DSCR loan on a fixer-upper?

Accepted Answer

Generally no. DSCR lenders want rent-ready properties. Use hard money first, then refinance into DSCR after rehab.

Question 2

How fast does hard money close compared to DSCR?

Accepted Answer

Hard money can close in days. DSCR typically takes 2–4 weeks, similar to a conventional loan.

Question 3

Do either of these loans check my personal income?

Accepted Answer

No. DSCR uses rental income. Hard money focuses on the asset's value. Neither requires W-2s or tax returns.

Question 4

Which loan has lower rates in Grand Terrace?

Accepted Answer

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

Question 5

Can I hold a property long-term with a hard money loan?

Accepted Answer

No. Hard money terms max out around 24 months. You'll need to sell or refinance before the loan matures.

Question 6

What credit score do I need for each loan?

Accepted Answer

DSCR lenders typically want 620+. Hard money lenders vary widely — some fund with much lower scores.

DSCR vs Hard Money Loans in Grand Terrace