Question 1

Can I use a DSCR loan to buy a primary residence in Escondido?

Accepted Answer

No. DSCR loans are for investment properties only. For a primary residence, you'd need a bank statement loan or a conventional product.

Question 2

Do bank statement loans require good credit?

Accepted Answer

Most lenders want at least a 620 credit score. Better scores unlock better rates. Rates vary by borrower profile and market conditions.

Question 3

What DSCR ratio do lenders typically require?

Accepted Answer

Most lenders want a DSCR of 1.0 or higher. Some allow below 1.0 with a larger down payment or stronger credit.

Question 4

Which loan has a lower down payment requirement?

Accepted Answer

Bank statement loans often allow 10% down on a primary home. DSCR loans typically require 20–25% down on investment properties.

Question 5

Can a self-employed investor use either loan type?

Accepted Answer

Yes. A self-employed investor could qualify for either. We compare both options and show you which one gives you better terms.

Question 6

How long does it take to close a Non-QM loan in Escondido?

Accepted Answer

Most Non-QM loans close in 21 to 30 days. Having your bank statements or rent rolls ready upfront speeds things up.

Bank Statement vs DSCR Loans in Escondido