Question 1

Can I use a DSCR loan for a short-term rental in Coronado?

Accepted Answer

Yes, most DSCR lenders accept short-term rental income. Some use projected rents from an appraisal rather than an existing lease.

Question 2

Do bank statement loans require perfect credit?

Accepted Answer

No, but most lenders want a 620 minimum. Better scores get better rates. Rates vary by borrower profile and market conditions.

Question 3

Can I buy a primary residence with a DSCR loan?

Accepted Answer

No. DSCR is for investment properties only. Use a bank statement loan if you plan to occupy the home.

Question 4

How many months of statements do I need for a bank statement loan?

Accepted Answer

Most lenders require 12 months minimum. Some want 24. Business account deposits may need an expense factor applied.

Question 5

What DSCR ratio do lenders require?

Accepted Answer

Most lenders require a 1.0 DSCR — meaning rent covers the full mortgage payment. Some allow below 1.0 with a higher down payment.

Question 6

Can I use an LLC to get a DSCR loan in Coronado?

Accepted Answer

Yes. DSCR loans are one of the few products that allow LLC vesting. Bank statement loans typically require personal borrower qualification.

Bank Statement vs DSCR Loans in Coronado