Loading
in Susanville, CA
Most Susanville borrowers fall outside conventional loan boxes. Self-employed operators and real estate investors need income verification that matches how they actually earn.
Bank statement and DSCR loans both skip W-2s, but they solve different problems. One uses your business cash flow, the other uses rental income from the property itself.
Bank statement loans analyze 12 or 24 months of deposits to calculate your income. Lenders average monthly deposits, apply a percentage adjustment for business expenses, then qualify you like a conventional borrower.
This works for contractors, shop owners, and service providers in Lassen County who write off most earnings. You still need decent credit—usually 620 minimum—and 10-20% down depending on the property type.
DSCR loans qualify you on rental income alone. The lender pulls a rent analysis, divides expected rent by the mortgage payment, and needs a ratio above 1.0. Your personal income never enters the equation.
This fits investors buying Susanville rental properties who have solid credit but complex tax situations. You need 15-25% down, and the property has to cash flow at market rent rates.
Bank statement loans examine your business cash flow. DSCR loans examine the property's cash flow. If you're self-employed buying a primary residence, you need bank statements—DSCR only works for investment properties.
Rate pricing differs too. Bank statement loans usually price slightly higher than conforming due to documentation risk. DSCR loans price based on rental coverage—strong ratios get better rates.
Choose bank statements if you're self-employed and buying your own home in Susanville. You need to prove income somehow, and monthly deposits tell that story better than tax returns with business deductions.
Choose DSCR if you're adding rental property and want your personal finances completely out of the equation. This works especially well if you're scaling a portfolio and don't want employment verification slowing approvals.
Yes, bank statement loans work for investment properties too. You'll typically need 20-25% down for rentals versus 15% for owner-occupied.
Most DSCR programs don't need tax returns or income docs. The property's rent analysis replaces all personal income verification.
DSCR often closes quicker since there's no employment or income verification. Bank statements need time for deposit analysis and business validation.
Absolutely. Use bank statements for your primary and DSCR for rentals. Each property gets the loan that fits its use case.
Both reward 700+ scores with lower rates. DSCR pricing tiers more aggressively by credit since there's no income verification to offset risk.