Question 1

Can I use a bank statement loan for a rental property?

Accepted Answer

Yes, but DSCR loans usually make more sense for pure rentals. Bank statement loans work best when you need to qualify based on self-employment income for owner-occupied homes.

Question 2

Which loan has better rates in Glendale?

Accepted Answer

DSCR loans often price 0.25-0.50% better because underwriting is simpler. Rates vary by borrower profile and market conditions, so compare both options with current quotes.

Question 3

Do both loans require the same down payment?

Accepted Answer

Minimum down payments run 15-20% for both. DSCR loans may require 20-25% if the rent-to-payment ratio is below 1.0, depending on the lender.

Question 4

Can I avoid showing tax returns with either loan?

Accepted Answer

Yes. DSCR loans never require personal tax returns. Bank statement loans skip tax returns but need 12-24 months of bank deposits instead.

Question 5

Which loan is faster to close?

Accepted Answer

DSCR loans typically close faster because they require less borrower documentation. You only need an appraisal with rent schedule and proof of down payment funds.

Bank Statement vs DSCR Loans in Glendale: Which Non-QM Option Fits Your Strategy?