Question 1

Can I use both loan types at the same time?

Accepted Answer

Yes, if you're buying a rental with DSCR and own your primary home through a bank statement loan. Different properties, different loan structures.

Question 2

Which has better rates in Belmont?

Accepted Answer

Rates vary by borrower profile and market conditions. DSCR typically prices tighter when the property has strong rent ratios and you put 25%+ down.

Question 3

Do both require tax returns?

Accepted Answer

DSCR never requires personal returns. Bank statement loans sometimes ask for business returns to verify self-employment, but don't use them for income calculation.

Question 4

What down payment do I need for each?

Accepted Answer

Bank statements start at 10% down for primary homes, 15-20% for investment. DSCR typically requires 20-25% down depending on credit and ratio.

Question 5

Can I buy a Belmont duplex with either option?

Accepted Answer

Yes. Bank statement works if you're living in one unit. DSCR works if you're renting both units and the combined income supports the payment.

Bank Statement vs DSCR Loans: Which Non-QM Fits Your Belmont Property Goal?