Question 1

Can I use both loan types at the same time?

Accepted Answer

No. You pick one program per property. If you're buying a rental and a primary home, you could use DSCR for the rental and bank statement for your house.

Question 2

Which loan closes faster in Corcoran?

Accepted Answer

DSCR typically closes faster because there's no income calculation. You just need an appraisal and a lease or rent comp showing the property hits the ratio.

Question 3

Do both loans accept low credit scores?

Accepted Answer

Bank statement loans go as low as 620. DSCR usually requires 640 minimum, with better pricing at 680+. Rates vary by borrower profile and market conditions.

Question 4

Can I use cryptocurrency as income for these loans?

Accepted Answer

HousingWire just covered a new product letting borrowers use crypto holdings to qualify for non-QM loans. That's brand new—ask if your lender offers it.

Question 5

Which loan has lower rates?

Accepted Answer

Neither. Both are non-QM products priced 1-2.5% above conventional rates. Your credit score and down payment matter more than the program you choose.

Bank Statement vs DSCR Loans in Corcoran: Which Non-QM Loan Fits Your Deal?