Question 1

Can I use a DSCR loan to buy a vacation rental in Markleeville?

Accepted Answer

Yes, but lenders may require short-term rental income projections or market rent analysis. Not every DSCR lender accepts STR properties.

Question 2

Do bank statement loans require business bank statements or personal?

Accepted Answer

Either works, depending on the lender. Business statements often use an expense factor to calculate net income.

Question 3

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want at least a 620 to 660. Higher scores get you better pricing. Rates vary by borrower profile and market conditions.

Question 4

Can I use both loans if I'm self-employed and own rentals?

Accepted Answer

Yes. They serve different purposes. Bank statement for your home purchase, DSCR for your investment property.

Question 5

Which loan closes faster?

Accepted Answer

DSCR often closes faster. There's no personal income review — underwriting focuses on the property's rent and value.

Bank Statement vs DSCR Loans in Markleeville, CA