Question 1

Can I use a DSCR loan on my primary residence?

Accepted Answer

No. DSCR loans are for investment properties only. For a home you'll live in, a bank statement loan is the non-QM option.

Question 2

Do bank statement loans require good credit?

Accepted Answer

Most lenders want a 620–640 minimum. Better credit gets you better rates on non-QM products.

Question 3

What DSCR ratio do lenders typically require?

Accepted Answer

Most want 1.0 at minimum. Many prefer 1.2 or higher. Below 1.0 means the rent doesn't cover the payment.

Question 4

Can I use both loan types at the same time?

Accepted Answer

Yes. Many investors use a bank statement loan for a primary and DSCR loans to grow a rental portfolio separately.

Question 5

Which loan closes faster in Yucaipa?

Accepted Answer

DSCR loans often move faster since there's no personal income analysis. Timeline still depends on the lender and property.

Question 6

Are these loans available for multi-unit properties?

Accepted Answer

Both programs can work on 1–4 unit properties. DSCR is especially common on small multi-family rental purchases.

Bank Statement vs DSCR Loans in Yucaipa, CA