Question 1

Can I use a DSCR loan to buy my primary home in Maricopa?

Accepted Answer

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

Question 2

Do bank statement loans work for rental properties?

Accepted Answer

Yes, but your personal income still qualifies you. DSCR lets the rent do that work instead.

Question 3

Which loan has the lower credit score minimum?

Accepted Answer

Both typically require around 620 minimum. Exact requirements vary by lender and loan scenario.

Question 4

Can I close a DSCR loan in an LLC?

Accepted Answer

Yes. Most DSCR lenders allow LLC vesting. Bank statement loans almost always require individual borrowers.

Question 5

What DSCR ratio do lenders want in Kern County?

Accepted Answer

Most lenders want a ratio of 1.0 or higher. Some allow below 1.0 with stronger credit or a larger down payment.

Question 6

How much do I need to put down on each loan?

Accepted Answer

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

Bank Statement vs DSCR Loans in Maricopa, CA