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in Amador City, CA
Amador City sits in California's Gold Country, where historic charm meets limited inventory. Whether you're buying a primary residence or an investment property determines which loan makes sense.
Conventional loans work for owner-occupants with W-2 income and solid credit. DSCR loans let investors qualify using rental income alone, no tax returns required.
Conventional loans require proof of employment, tax returns, and a credit score typically above 620. You can put down as little as 3% on a primary residence, though 20% avoids mortgage insurance.
These loans offer the lowest rates available and work for single-family homes, condos, and multi-units up to four. Most borrowers in Amador City use conventional financing for their own residence.
DSCR loans ignore your personal income entirely. Lenders approve based on the property's rental income compared to the mortgage payment, called the debt service coverage ratio.
You need 20-25% down and a credit score around 640. No tax returns, no employment letters, no explaining business write-offs that tank your income on paper.
Conventional loans require two years of tax returns and employment verification. DSCR loans skip that entirely, qualifying you on the property's rental income instead.
Conventional rates currently sit 1-2% lower than DSCR rates. But if your tax returns show low income due to business deductions, DSCR might be your only option. Rates vary by borrower profile and market conditions.
Buying a home to live in? Conventional wins every time. Lower rates, smaller down payment, easier to qualify if you have steady W-2 income.
Buying a rental property in Amador City with strong rental demand? DSCR makes sense if your tax returns don't show enough income or you want to avoid the paperwork hassle. The higher rate costs you, but approval doesn't depend on your tax situation.
No. DSCR loans only work for investment properties that generate rental income. You must use conventional or other financing for a primary home.
Conventional loans offer rates 1-2% lower than DSCR. But DSCR might be your only option if tax returns show insufficient income.
Conventional typically requires 620 minimum. DSCR lenders want 640 or higher, though some programs accept lower scores.
Yes. Put 20% down on conventional or use DSCR with required 20-25% down payment to skip mortgage insurance on both.
Completely. DSCR lenders qualify you on rental income alone. No tax returns, no W-2s, no employment verification required.