Question 1

Do I need to show income to qualify for a DSCR loan in Santa Barbara?

Accepted Answer

No personal income verification required. Approval is based on the rental income the property generates relative to its debt payment.

Question 2

What credit score do I need for an investor loan here?

Accepted Answer

Most programs start at 680. Some lenders go lower, but expect higher rates and stricter terms below that threshold.

Question 3

Can I finance a short-term rental property in Santa Barbara?

Accepted Answer

Some lenders allow it. But confirm local STR ordinances first — lending on a property you can't legally rent short-term is a serious mistake.

Question 4

How much do I need to put down on an investment property?

Accepted Answer

Typically 20-25%. Some lenders require more on condos or properties with low DSCR ratios.

Question 5

What is a DSCR loan and how does it work?

Accepted Answer

DSCR stands for Debt Service Coverage Ratio. Lenders divide the property's rental income by its monthly debt payment — a ratio above 1.0 typically qualifies.

Question 6

How fast can I close an investor loan in Santa Barbara?

Accepted Answer

DSCR loans typically close in 21-30 days. Hard money and bridge loans can close in 7-14 days when needed.

Investor Loans in Santa Barbara, CA