Question 1

What down payment do I need for an investment property in Montclair?

Accepted Answer

Most investor loans require 15-25% down for Montclair properties. The exact amount depends on loan type, property condition, and your borrower profile.

Question 2

Can I get an investor loan without traditional income documentation?

Accepted Answer

Yes, DSCR loans approve based on rental income without requiring tax returns or W-2s. These non-QM solutions work well for self-employed investors.

Question 3

How quickly can I close on a Montclair investment property?

Accepted Answer

Hard money loans can close in 7-14 days. Traditional investor loans typically take 21-45 days depending on property type and documentation.

Question 4

Do interest rates differ for investment properties versus primary homes?

Accepted Answer

Yes, investor loan rates are typically higher than primary residence rates. Rates vary by borrower profile and market conditions.

Question 5

What's the difference between DSCR and hard money loans?

Accepted Answer

DSCR loans focus on rental income for longer-term holds. Hard money loans provide quick funding for short-term fix-and-flip projects.

Investor Loans in Montclair: Financing for Rental Properties and Fix-and-Flip Projects