Question 1

Can I use a bank statement loan to buy a rental property?

Accepted Answer

Yes. Bank statement loans allow investment property purchases. But if the rental income alone covers the debt, DSCR may get you a cleaner approval.

Question 2

What credit score do I need for a DSCR loan?

Accepted Answer

Most DSCR lenders want at least a 620–640 credit score. Higher scores get better pricing.

Question 3

Do DSCR loans require me to show any personal income?

Accepted Answer

No. DSCR loans qualify based on the property's rent versus its debt payment. Your W-2s and tax returns stay in the drawer.

Question 4

Which loan has higher rates — bank statement or DSCR?

Accepted Answer

Both carry rate premiums over conventional loans. Rates vary by borrower profile and market conditions — we shop both across 200+ lenders.

Question 5

Can I use a DSCR loan on a property I plan to occupy?

Accepted Answer

No. DSCR is strictly for non-owner-occupied investment properties. If you're moving in, you need a different loan.

Question 6

How many bank statements do lenders actually review?

Accepted Answer

Most lenders require 12 or 24 months. Longer statements often produce a more favorable income average.

Bank Statement vs DSCR Loans in Santee