Question 1

Can I use a DSCR loan to buy a primary residence?

Accepted Answer

No. DSCR loans only work for investment properties. You'll need conventional or another owner-occupant program for a primary home.

Question 2

Which loan has better rates in San Mateo?

Accepted Answer

Conventional loans beat DSCR by 1-2% on rate. You're paying for the convenience of no income verification with DSCR.

Question 3

Do both loans work for condos?

Accepted Answer

Yes, but DSCR lenders scrutinize condo projects harder. Conventional has clearer approval guidelines for warrantable condos.

Question 4

Can I refinance a conventional loan to DSCR?

Accepted Answer

Absolutely. Investors often start conventional as owner-occupants, then move out and refinance to DSCR for better portfolio scaling.

Question 5

Which loan closes faster?

Accepted Answer

DSCR can close quicker—no employment verification means less paperwork. Conventional takes longer due to full income underwriting.

Conventional vs DSCR Loans in San Mateo: Homeowner or Investor?