Question 1

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

Accepted Answer

No. DSCR loans are for investment properties only. Use a Bank Statement loan if you're buying a home to live in.

Question 2

What credit score do these loans require?

Accepted Answer

Most lenders want at least 620–640 for both. Stronger scores get better rates. Rates vary by borrower profile and market conditions.

Question 3

Can I use both loan types as an investor?

Accepted Answer

Yes. Self-employed investors sometimes use Bank Statement for a primary home and DSCR for rentals. They serve different purposes.

Question 4

Do Bank Statement Loans work for LLCs?

Accepted Answer

Some lenders allow business bank statements and LLC borrowers. Not all do — this is where having 200+ lenders to shop matters.

Question 5

What DSCR ratio do Oakland rentals need?

Accepted Answer

Most lenders target 1.0 or higher. Some go to 0.75 with a stronger down payment. Rates vary by borrower profile and market conditions.

Question 6

Which loan closes faster?

Accepted Answer

DSCR typically moves faster since there's no income analysis. Bank Statement underwriting takes more time to review deposit patterns.

Bank Statement vs DSCR Loans in Oakland