Question 1

Can I use a Bank Statement Loan for a rental property?

Accepted Answer

You can, but DSCR is usually the cleaner fit. Bank Statement Loans are designed for primary or second homes, not investment property cash flow analysis.

Question 2

Do DSCR Loans require any income documentation?

Accepted Answer

No personal income docs needed. Lenders just need a lease agreement or rent schedule to verify the property's income.

Question 3

What credit score do I need for these loans?

Accepted Answer

Most Non-QM lenders want 660 or higher for both. Lower scores are possible but push your rate up significantly.

Question 4

Can I close a DSCR Loan in an LLC?

Accepted Answer

Yes. Most DSCR lenders allow LLC vesting. That's one reason investors prefer it over Bank Statement for rentals.

Question 5

How much down payment do these loans require?

Accepted Answer

Expect 20–25% down for both. Non-QM lenders carry more risk and price that into their equity requirements.

Question 6

Are short-term rentals eligible for DSCR Loans in Plymouth?

Accepted Answer

Some lenders accept short-term rental income using AirDNA data. Not all do — this is where shopping across lenders matters.

Bank Statement vs DSCR Loans in Plymouth, CA