Question 1

Can I use DSCR for my primary residence in Colfax?

Accepted Answer

No. DSCR loans require investment properties with rental income. Use bank statement loans for owner-occupied homes.

Question 2

Which loan has better rates?

Accepted Answer

Rates are similar—both run 1-2% above conventional. DSCR may price slightly better if the property has strong rental income and high DSCR ratio.

Question 3

Do I need tax returns for either loan?

Accepted Answer

No. Both are non-QM products that skip tax returns entirely. Bank statement uses deposits, DSCR uses rental income.

Question 4

Can I get both loan types at the same time?

Accepted Answer

Yes. You can use bank statement for your primary and DSCR for investment properties simultaneously if you qualify for both.

Question 5

What credit score do I need?

Accepted Answer

Bank statement typically requires 620+. DSCR may accept lower scores if the property's rental income is strong enough to offset risk.

Question 6

How long does underwriting take?

Accepted Answer

Both take 3-4 weeks. DSCR can be faster since there's less income documentation to verify and review.

Bank Statement vs DSCR Loans in Colfax: Which Non-QM Loan Fits Your Investment Strategy?