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in Fairfield, CA
Both loans skip traditional income docs. But they serve very different borrowers.
Bank Statement loans work for self-employed buyers. DSCR loans work for rental property investors. Knowing which fits your situation saves you time.
Bank Statement loans use 12 to 24 months of deposits to calculate your income. No W-2s. No tax returns.
This is built for self-employed borrowers whose write-offs make taxable income look low. Your actual cash flow tells the real story.
DSCR loans qualify you based on the rental property's income — not yours. The property pays for itself on paper.
Lenders look at the rent-to-mortgage ratio. A DSCR above 1.0 means the rent covers the payment. Many lenders want 1.1 or higher.
Bank Statement loans look at your personal cash flow. DSCR loans ignore your income entirely.
Bank Statement loans can finance the home you live in. DSCR loans are investment property only — no owner-occupants.
If you're self-employed and buying a home to live in, Bank Statement is your path. DSCR won't work for that.
If you're buying a rental in Fairfield and the rent covers the mortgage, DSCR is cleaner. You don't have to prove anything about your personal income.
No. DSCR loans are for investment properties only. For a primary home, you'd need a Bank Statement or conventional loan.
Yes. Bank Statement loans can finance investment properties. But DSCR is often simpler if the rental income covers the payment.
Most lenders want at least 660–680 for both. Higher scores get better rates. Rates vary by borrower profile and market conditions.
Bank Statement loans typically start at 10% down for primary homes. DSCR loans usually require 20–25% for investment properties.
Yes. Many investors in Fairfield use a Bank Statement loan for their home and DSCR loans for each rental property.
DSCR loans often close faster since there's no income documentation to verify. Bank Statement loans require time to review deposit history.