Question 1

Can I use a bank statement loan for a rental property in Moraga?

Accepted Answer

No. Bank statement loans require owner occupancy. If you're buying a rental, DSCR is the right program.

Question 2

Which loan type has better interest rates?

Accepted Answer

DSCR loans typically price lower because underwriting is straightforward. Rates vary by borrower profile and market conditions.

Question 3

Do both programs require tax returns?

Accepted Answer

DSCR loans skip tax returns entirely. Bank statement loans may request them but don't use them to calculate income.

Question 4

What down payment do I need for each option?

Accepted Answer

Bank statement loans start at 10% down. DSCR loans typically require 20-25% minimum for investment properties.

Question 5

Can I qualify for both loan types at the same time?

Accepted Answer

Yes, if you're buying a primary home and a rental simultaneously. You'd use bank statement for one and DSCR for the other.

Bank Statement vs DSCR Loans in Moraga: Which Non-QM Option Fits Your Deal?