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in Rolling Hills, CA
Rolling Hills properties often need creative financing. Traditional lenders miss deals that make perfect sense.
Bank statement and DSCR loans both skip W-2 income verification. But they qualify you in completely different ways.
One uses your business cash flow. The other uses rental income from the property itself.
Knowing which route to take saves time and gets you to close faster.
Bank statement loans use 12 or 24 months of deposits to calculate income. Lenders average your monthly deposits and apply that as qualifying income.
This works for self-employed buyers purchasing a primary residence. Business owners, 1099 contractors, and LLC operators use these constantly.
You need 10-20% down depending on credit score. Rates run 1-2 points above conventional because you're outside standard guidelines.
The key requirement: consistent deposits that show you can afford the payment. Tax returns showing write-offs don't kill your approval here.
DSCR loans ignore your personal income entirely. Underwriters look at one number: rent divided by mortgage payment.
You need a ratio above 1.0 for most lenders. That means the rent covers the full PITI payment with room to spare.
This loan is built for investors buying rental properties. You can close in an LLC and keep everything separate from personal finances.
No income docs, no tax returns, no employment verification. Just an appraisal with a rent schedule and proof of down payment funds.
Bank statement loans qualify you personally. DSCR loans qualify the property. That's the entire game.
For primary residence in Rolling Hills, you're using bank statements. No DSCR lender touches owner-occupied deals.
For investment properties, DSCR usually wins. You don't burn bank statement docs, and rent does the heavy lifting.
Rates vary by borrower profile and market conditions. DSCR rates typically run slightly higher because underwriting is simpler and risk is concentrated in property performance.
Buying a home to live in? Bank statement loan. DSCR doesn't apply to owner-occupied properties under any circumstances.
Buying a rental property with strong rent? DSCR keeps things simple. You skip income documentation entirely.
Buying a rental but rent is tight or property needs work? Bank statement loan lets you use your income to cover gaps in property performance.
Many Rolling Hills investors keep both tools in their belt. Use DSCR when rent carries the deal. Use bank statements when you need personal income to qualify.
No. DSCR loans are strictly for investment properties. If you're occupying the property, you need a bank statement loan or another product.
Bank statement loans typically price slightly better because underwriting includes personal income verification. Both run above conventional rates.
No. Neither loan requires tax returns for income qualification. That's the whole point of non-QM financing.
Yes. You can have a bank statement loan on your primary residence and DSCR loans on multiple investment properties simultaneously.
Both loans typically require 620+ minimum. Better rates start at 680, and 720+ gets you close to conventional pricing.
Expect 15-25% down for either loan type. Exact requirements depend on credit score, property type, and loan amount.