Question 1

Can I use a DSCR loan to buy my primary residence in Hanford?

Accepted Answer

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

Question 2

Do bank statement loans require a minimum credit score?

Accepted Answer

Most lenders want 660 or higher. Some go to 640 with stronger reserves or a larger down payment.

Question 3

What DSCR ratio do lenders typically require?

Accepted Answer

Most want 1.1 or above. A few lenders allow 1.0, meaning rent just covers the payment.

Question 4

Can I use an LLC to get a DSCR loan?

Accepted Answer

Yes. DSCR loans are LLC-friendly. That's one reason investors prefer them for building a portfolio.

Question 5

Which loan closes faster?

Accepted Answer

DSCR loans often move faster. There's no personal income analysis — lenders just underwrite the property.

Question 6

Can I use both loan types at the same time?

Accepted Answer

Yes. A self-employed investor could use a bank statement loan on their home and a DSCR loan on a rental.

Bank Statement vs DSCR Loans in Hanford, CA