Question 1

Can I use hard money to buy a rental in La Mesa?

Accepted Answer

Yes, but it's a short-term play. Most investors buy with hard money, then refinance into a DSCR loan once the property is stabilized.

Question 2

What credit score do I need for a DSCR loan?

Accepted Answer

Most DSCR lenders want at least 620-660. Hard money lenders are more flexible — some approve below 600 if the deal is strong.

Question 3

How fast does hard money close vs DSCR?

Accepted Answer

Hard money can close in 5-10 days. DSCR loans typically take 2-4 weeks — faster than conventional but slower than hard money.

Question 4

Do DSCR loans require a property appraisal?

Accepted Answer

Yes. Lenders need to verify value and confirm the rent supports the DSCR ratio. Most require a full appraisal with a rent schedule.

Question 5

What DSCR ratio do lenders require?

Accepted Answer

Most lenders want a ratio of 1.0 or higher — meaning rent covers the full mortgage payment. Some allow 0.75 with a higher down payment.

Question 6

Can I get a hard money loan for a La Mesa multifamily?

Accepted Answer

Yes. Hard money works on single-family and small multifamily deals. The lender focuses on after-repair value and your exit strategy.

DSCR Loans vs Hard Money Loans in La Mesa