Question 1

Can I use a DSCR loan to buy a fixer-upper?

Accepted Answer

Generally no. DSCR lenders want move-in ready rentals with provable rent. Hard money is the right tool for distressed acquisitions.

Question 2

How fast can hard money close in Fairfield?

Accepted Answer

Many hard money lenders close in 5 to 10 business days. That speed is the main reason investors use them over conventional financing.

Question 3

What credit score do I need for each loan?

Accepted Answer

DSCR lenders typically want 660 or higher. Hard money lenders are more flexible — some approve with scores in the 600s or lower.

Question 4

Can I refinance a hard money loan into a DSCR loan?

Accepted Answer

Yes — and many investors do exactly that. Stabilize the property, get it rented, then refinance into a long-term DSCR loan.

Question 5

Which loan has a lower interest rate?

Accepted Answer

DSCR loans run lower rates. Hard money carries a premium for speed and flexibility. Rates vary by borrower profile and market conditions.

Question 6

Do either of these loans require tax returns?

Accepted Answer

No. Neither DSCR nor hard money loans require personal tax returns. That's a core reason investors use both of these non-QM products.

DSCR Loans vs Hard Money Loans in Fairfield, CA