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in Fowler, CA
Fowler's real estate market attracts both owner-occupant entrepreneurs and pure investors. Each needs different proof of ability to pay.
Bank statement loans work for self-employed buyers purchasing a primary residence. DSCR loans serve investors who want the property's rent to qualify them.
Bank statement loans replace tax returns with 12 to 24 months of business or personal bank deposits. Lenders calculate income from average monthly deposits, then apply a percentage based on your business structure.
You can buy a primary residence, second home, or investment property. Credit scores typically start at 620, and down payments range from 10% to 20% depending on property type.
DSCR loans ignore your W-2s, 1099s, and bank statements completely. Lenders only care about one number: monthly rent divided by monthly mortgage payment (the debt service coverage ratio).
You need a DSCR above 1.0 for most programs, meaning rent covers the full payment. Investment properties only—no primary residences allowed. Most lenders require 20-25% down.
The core split: bank statement loans qualify you personally, DSCR loans qualify the property. If you're self-employed buying a home in Fowler to live in, bank statement is your only option between these two.
DSCR loans skip all personal income verification—perfect if your tax returns show low income but you're buying cash-flowing rentals. Bank statement loans still verify your income, just through deposits instead of tax returns.
Choose bank statement loans if you're self-employed and buying a Fowler home to live in. Also use them if you're an investor who wants one loan program for both rentals and future primary residences.
Choose DSCR if you're buying rental property and your personal tax returns don't reflect your true income. These work especially well for W-2 earners building rental portfolios without income verification hassles.
No. DSCR loans are for investment properties only. Use a bank statement loan if you're occupying the property.
Rates vary by borrower profile and market conditions. Neither consistently beats the other—it depends on your DSCR ratio or bank deposit strength.
Bank statement loans skip tax returns but verify income through deposits. DSCR loans don't look at tax returns or bank statements at all.
Yes. Bank statement loans allow investment properties. Choose based on whether you want personal income verification or property-only qualification.
Both typically require 620 minimum. DSCR programs may accept lower scores if your debt service coverage ratio is strong.