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in San Rafael, CA
San Rafael attracts self-employed professionals and real estate investors alike. Both groups need financing — but not the same kind.
Bank Statement and DSCR loans are both Non-QM. That means no tax returns required. But they solve very different problems.
Bank Statement loans qualify you on 12 to 24 months of deposits. Lenders average those deposits to calculate your income.
This works well for consultants, business owners, and freelancers. Your write-offs hurt you on taxes — not here.
DSCR loans ignore your personal income entirely. The rental property has to pay for itself.
Lenders divide the property's gross rent by its monthly debt. A DSCR at or above 1.0 means the rent covers the payment.
The biggest split is purpose. Bank Statement loans work on any property type. DSCR loans are strictly for rentals.
Rates vary by borrower profile and market conditions — but DSCR loans often price slightly higher. The tradeoff is zero income documentation on the personal side.
Buying a home or second property in San Rafael? Bank Statement is your lane if you're self-employed with strong deposits.
Adding a rental to your portfolio? Run the DSCR numbers first. If the rent covers the payment, personal income is off the table.
No. DSCR loans are investment property only. For a primary home, Bank Statement is the Non-QM path.
Most lenders want at least a 620 score. Stronger credit gets better pricing. Rates vary by borrower profile.
Most want 1.0 or higher. Some lenders allow below 1.0 with a larger down payment or stronger reserves.
Yes. If it's a rental, DSCR is often cleaner. If personal income is needed, Bank Statement is the backup.
Expect 20–25% down on both. DSCR deals at lower ratios may require more. Terms vary by lender.
DSCR can move quickly since there's no personal income review. Bank Statement underwriting takes more time.