Question 1

Can I use bank statement loans for investment properties?

Accepted Answer

Some lenders allow it, but DSCR loans work better for rentals. You'll get better terms when the loan program matches the property type.

Question 2

Which loan has lower rates in Nevada City?

Accepted Answer

Rates run similar on both programs, typically 1-2% above conventional. Your credit score and down payment matter more than the loan type.

Question 3

Do I need tax returns for either option?

Accepted Answer

Neither program requires tax returns for income qualification. Bank statement loans may ask for returns to verify self-employment, but they don't use them for income.

Question 4

What credit score do I need for these loans?

Accepted Answer

Both programs start at 620 minimum credit score. Higher scores unlock better rates and lower down payment options.

Question 5

Can I combine both loan types for multiple properties?

Accepted Answer

Yes, many Nevada City investors use bank statement loans for their primary home and DSCR loans for rentals. Each property qualifies separately.

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