Question 1

Can I use a DSCR loan to buy a house I'll live in?

Accepted Answer

No. DSCR loans are strictly for investment properties. If you're occupying the property, you need a bank statement loan or another product.

Question 2

Which loan has better rates?

Accepted Answer

Bank statement loans typically price slightly better because underwriting includes personal income verification. Both run above conventional rates.

Question 3

Do I need tax returns for either loan?

Accepted Answer

No. Neither loan requires tax returns for income qualification. That's the whole point of non-QM financing.

Question 4

Can I use both loans at the same time?

Accepted Answer

Yes. You can have a bank statement loan on your primary residence and DSCR loans on multiple investment properties simultaneously.

Question 5

What credit score do I need?

Accepted Answer

Both loans typically require 620+ minimum. Better rates start at 680, and 720+ gets you close to conventional pricing.

Question 6

How much down payment is required?

Accepted Answer

Expect 15-25% down for either loan type. Exact requirements depend on credit score, property type, and loan amount.

Bank Statement vs DSCR Loans in Rolling Hills: Which Non-QM Option Fits Your Deal?