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in Angels Camp, CA
Angels Camp sits in Calaveras County's Gold Country, where self-employed business owners and real estate investors need flexible financing. Traditional W-2 income verification doesn't work when you run your own operation or build a rental portfolio.
Bank Statement and DSCR loans both skip tax returns, but they solve different problems. One qualifies you based on your business cash flow, the other on rental income potential.
Bank Statement loans use 12 or 24 months of business or personal bank deposits to calculate your income. Lenders analyze your average monthly deposits and apply a percentage (typically 50-75%) to determine qualifying income.
This works for contractors, real estate agents, restaurant owners—anyone whose tax returns show heavy write-offs. You prove income through cash flow, not adjusted gross income.
DSCR loans ignore your personal income entirely. They qualify you based on whether the rental property generates enough income to cover its mortgage payment, taxes, and insurance.
The property must produce a debt service coverage ratio of at least 1.0 (income equals expenses) or higher. Your personal tax returns, employment status, and existing debts don't matter for approval.
Bank Statement loans require you to qualify personally—your deposits must support the debt. DSCR loans don't care about your income at all, only whether the property pays for itself through rent.
You can use Bank Statement loans for primary residences or investment properties. DSCR loans work exclusively for non-owner-occupied rentals. Rates on Bank Statement loans often run 0.5-1% higher than DSCR when comparing similar scenarios.
Choose Bank Statement if you're self-employed and buying your own home in Angels Camp or need to qualify for multiple properties using your business income. You need solid deposit history showing consistent cash flow.
Choose DSCR if you're scaling a rental portfolio and your personal debt-to-income ratio is maxed out, or if you simply don't want to document personal income. The property must generate enough rent to cover its own mortgage payment.
Yes. Bank Statement loans work for primary homes, second homes, and investment properties. You still qualify based on your personal cash flow shown in bank deposits.
No. DSCR loans qualify solely on the rental property's income versus its expenses. Your employment, tax returns, and personal debts don't factor into approval.
DSCR loans often have slightly lower rates when comparing similar scenarios. Rates vary by borrower profile and market conditions—actual pricing depends on credit, down payment, and property details.
Yes. Most lenders accept 12 or 24 months of statements. Using 24 months typically results in better qualification and sometimes lower rates.
Some lenders approve loans with DSCR as low as 0.75, but you'll need a larger down payment. Properties with stronger cash flow get better terms.