Question 1

Can I use a DSCR loan to buy a home in Calexico to live in?

Accepted Answer

No. DSCR loans are for investment properties only. For a primary residence, a bank statement loan is the non-QM option.

Question 2

Do bank statement loans require perfect credit?

Accepted Answer

No, but stronger credit gets better terms. Most lenders want at least a 620 score, though requirements vary by lender.

Question 3

What counts as acceptable DSCR for approval?

Accepted Answer

Most lenders require a ratio of 1.0 or higher. That means rental income at least equals the monthly mortgage payment.

Question 4

How many months of bank statements do I need?

Accepted Answer

Typically 12 to 24 months. Lenders use your average monthly deposits to calculate qualifying income.

Question 5

Can a self-employed investor use either loan?

Accepted Answer

Yes. A DSCR loan ignores personal income entirely. For an investment property, it may actually be the simpler option.

Question 6

Are these loans available for multi-unit properties in Calexico?

Accepted Answer

Both programs can cover multi-unit properties. DSCR is especially common on 2–4 unit rentals where combined rents support the payment.

Bank Statement vs DSCR Loans in Calexico, CA