Question 1

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

Accepted Answer

Not usually. DSCR lenders want a property that's already rentable. A gut-rehab deal needs hard money first.

Question 2

How long does hard money take to close?

Accepted Answer

Many hard money lenders close in 5–10 business days. Speed depends on the lender and how clean your deal is.

Question 3

What credit score do I need for a DSCR loan?

Accepted Answer

Most DSCR lenders want at least a 620. Some go lower, but rates will be higher the further below 680 you fall.

Question 4

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

Accepted Answer

Yes. That's actually a common exit strategy. Stabilize the property, get it rented, then refi into a DSCR loan.

Question 5

Which loan has lower rates in Exeter?

Accepted Answer

DSCR loans run cheaper. Hard money rates are higher because of short terms and faster closings. Rates vary by borrower profile and market conditions.

Question 6

Do either of these loans require tax returns?

Accepted Answer

No. Both skip personal income docs. DSCR qualifies on rent income. Hard money qualifies on property value.

DSCR vs Hard Money Loans in Exeter, CA