Question 1

Can I use both loans at the same time?

Accepted Answer

Yes. Some borrowers use a Bank Statement Loan for their home and a DSCR Loan for a rental. They serve different purposes.

Question 2

Which loan has a lower credit score requirement?

Accepted Answer

Both are Non-QM, so requirements vary by lender. Most programs start around 620 to 660. DSCR lenders sometimes flex lower.

Question 3

Do DSCR Loans work for short-term rentals?

Accepted Answer

Some lenders allow Airbnb income for DSCR. Not all do. We check which of our 200+ lenders accepts short-term rental income.

Question 4

Can I buy in Cupertino with a Bank Statement Loan?

Accepted Answer

Yes. Non-QM lenders have high loan limits. Cupertino's price range is well within what these programs can handle.

Question 5

How long does it take to close either loan?

Accepted Answer

Both typically close in 21 to 30 days. DSCR can sometimes move faster since there's no personal income review.

Question 6

Which loan requires more documentation?

Accepted Answer

Bank Statement Loans require 12 to 24 months of statements. DSCR needs a rent schedule or lease and an appraisal.

Bank Statement vs DSCR Loans in Cupertino