Question 1

Can I use a DSCR loan for a second home in Half Moon Bay?

Accepted Answer

No. DSCR loans work only for investment properties that generate rental income. Second homes require bank statement or other financing.

Question 2

Which loan type has lower rates?

Accepted Answer

Bank statement loans typically price slightly lower. Both sit above conventional rates due to non-QM risk factors.

Question 3

Do I need tax returns for either option?

Accepted Answer

DSCR loans skip personal tax returns entirely. Bank statement loans may request them but rely on deposits for income calculation.

Question 4

What credit score do I need for each?

Accepted Answer

Bank statement programs start around 620. DSCR loans generally require 660 or higher.

Question 5

Can I combine both loan types in one purchase?

Accepted Answer

No. You choose one approval method per property. Investors often use different loan types across separate properties in their portfolio.

Bank Statement vs DSCR Loans in Half Moon Bay: Which Non-QM Option Fits Your Strategy?