Question 1

Can I use a bank statement loan for an investment property?

Accepted Answer

Yes. Bank statement loans work for investment properties too. But DSCR is usually simpler since it skips personal income review entirely.

Question 2

What credit score do I need for these loans?

Accepted Answer

Most lenders want at least 620 to 640 for both. Stronger scores get better rates. Rates vary by borrower profile and market conditions.

Question 3

Which loan has a lower down payment requirement?

Accepted Answer

Bank statement loans can go as low as 10% down. DSCR loans typically require 20% to 25% for investment properties.

Question 4

Can a self-employed investor use either loan?

Accepted Answer

Yes. If you're self-employed and buying a rental, DSCR skips your income docs completely. Bank statement works too if the deal needs it.

Question 5

Do these loans require mortgage insurance?

Accepted Answer

Generally no. Non-QM lenders typically price risk into the rate rather than adding PMI. Check with your broker on specific lender terms.

Question 6

Are DSCR loans harder to get than bank statement loans?

Accepted Answer

Not harder — just different. DSCR approval leans on the property's rent income. A well-priced Chino Hills rental can make approval straightforward.

Bank Statement vs DSCR Loans in Chino Hills