Question 1

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

Accepted Answer

Yes, but a DSCR loan is usually cleaner. Bank statement loans can work for rentals, but DSCR removes your personal income from the equation entirely.

Question 2

Do DSCR lenders count short-term rental income?

Accepted Answer

Some do, some don't. We work with lenders who accept Airbnb income — that matters a lot for Calistoga properties.

Question 3

What credit score do I need for either loan?

Accepted Answer

Most bank statement lenders want 660 or higher. DSCR lenders typically start at 620. Both vary by lender and loan size.

Question 4

How much do I need to put down?

Accepted Answer

Expect 10–20% down for bank statement loans. DSCR loans often require 20–25%, especially on investment properties.

Question 5

Are these loans more expensive than conventional?

Accepted Answer

Yes, non-QM loans carry higher rates than conventional. The tradeoff is qualification flexibility that conventional loans don't offer.

Question 6

Can one property qualify for both loan types?

Accepted Answer

The property can. Which loan you use depends on your goals and how you plan to use it. We'll run both scenarios.

Bank Statement vs DSCR Loans in Calistoga, CA