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in Vista, CA
Vista's mix of single-family rentals and multi-unit properties attracts both self-employed buyers and traditional investors. Each group needs different income documentation.
Bank statement loans work for self-employed borrowers buying any property type. DSCR loans serve investors who want qualification based purely on rental income.
Both are non-QM products with faster approval than conventional loans. The right choice depends on whether you're buying your primary residence or an investment property.
Bank statement loans use 12 or 24 months of business or personal bank deposits to calculate income. We average your deposits and apply an expense ratio, typically 50%.
You can buy a primary residence, second home, or investment property. Credit requirements start at 620, with 10-15% down for owner-occupied purchases.
This option works well for contractors, real estate agents, and small business owners in Vista. Your actual tax returns don't matter—only cash flow through your accounts.
DSCR loans qualify you based on the property's rental income versus its monthly debt. The ratio must hit 1.0 or higher, meaning rent covers the mortgage payment.
These are investment-only loans. You cannot use DSCR for a home you'll live in, even part-time.
Lenders don't request tax returns, pay stubs, or employment verification. They order a rent schedule or appraisal to determine market rent, then calculate the debt coverage ratio.
Vista landlords with multiple properties prefer DSCR because adding another rental doesn't complicate DTI calculations. Each property stands on its own numbers.
Bank statement loans look at your income. DSCR loans ignore your income entirely and focus on property performance.
You can live in a bank statement financed home. DSCR requires you to rent it out—no owner occupancy allowed.
Bank statement borrowers need consistent deposits over 12-24 months. DSCR borrowers need a property that generates enough rent to cover its debt.
Rates vary by borrower profile and market conditions. DSCR rates typically run 0.25-0.50% higher than bank statement rates due to investment property pricing.
Choose bank statement loans if you're self-employed and buying a home to live in. Also use them for investment properties when your business income is strong but tax write-offs reduce your reported earnings.
Choose DSCR if you're buying a Vista rental and want the property to qualify itself. This works whether you're W-2 employed or self-employed—your job doesn't matter.
DSCR makes sense for experienced landlords adding to their portfolio. Bank statements suit first-time investor-buyers or anyone purchasing their primary residence.
Some Vista buyers use both products: bank statements for their residence, DSCR for rentals. The loans don't interfere with each other since DSCR doesn't count against your DTI.
Yes, bank statement loans work for investment properties. You'll need larger down payments than owner-occupied purchases, typically 20-25%.
Most lenders require 1.0 or higher, meaning rent equals or exceeds the mortgage payment. Some accept 0.75 with larger down payments and rate adjustments.
No, you can use personal accounts if your business income flows through them. We just need consistent deposit history over 12 or 24 months.
Yes, DSCR loans don't require landlord experience. The property's rent coverage matters more than your background as an investor.
Both close in 21-30 days typically. DSCR can be slightly faster since there's no income documentation, just an appraisal and rent analysis.
Yes, cash-out and rate-term refinances work with DSCR. This helps investors tap equity without complicating their personal income documentation.