Question 1

Can I use a DSCR loan to buy a primary residence?

Accepted Answer

No. DSCR loans are for investment properties only. For a primary home, a bank statement loan is the non-QM option.

Question 2

Do bank statement loans work for LLC borrowers?

Accepted Answer

Sometimes, but most lenders require the loan to be in the borrower's name. DSCR loans are more LLC-friendly.

Question 3

Which loan has stricter credit requirements?

Accepted Answer

Both are non-QM and vary by lender. Generally, expect minimums around 620 to 660 for either program.

Question 4

Can I use rental income on a bank statement loan?

Accepted Answer

Yes, if rental deposits show in your bank statements. But DSCR is usually cleaner for pure investment property deals.

Question 5

Which loan is faster to close?

Accepted Answer

DSCR loans often close faster. There's less personal income documentation to gather and verify.

Question 6

Are these loans available for high-priced Sunnyvale properties?

Accepted Answer

Yes. Non-QM lenders often go above conforming limits. Loan amounts depend on the lender and your profile.

Bank Statement vs DSCR Loans in Sunnyvale