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in Rohnert Park, CA
Both loans skip the standard income docs. That's where the similarity ends.
One is built for self-employed borrowers. The other is built for rental investors. Knowing which fits you saves time and money.
Bank Statement loans use 12 to 24 months of deposits to prove income. No tax returns. No pay stubs.
This is the go-to for self-employed borrowers in Rohnert Park whose write-offs kill their taxable income. Your actual cash flow is what matters here.
DSCR loans don't touch your personal income at all. Lenders look at whether the rental property pays for itself.
A DSCR above 1.0 means rent covers the mortgage. Most lenders want 1.1 or higher. Sonoma County rents can make that number work.
Bank Statement loans are personal. Your income, your deposits, your credit profile. DSCR loans are about the asset.
Rates on both run higher than conventional. DSCR loans can sometimes price better when the property's numbers are strong. Rates vary by borrower profile and market conditions.
Buying a home to live in? Bank Statement is your path. DSCR doesn't work for owner-occupied properties.
Buying a rental in Rohnert Park? Run the DSCR numbers first. If rent covers the payment at 1.1x or better, DSCR is cleaner and faster.
Some lenders allow it using market rent or Airbnb income projections. Underwriting is stricter, and not every lender accepts STR properties.
Yes. If you're self-employed and buying a rental, Bank Statement is a valid path. DSCR is often simpler if the rent pencils out.
Both typically require 620 or higher. Some DSCR lenders go down to 600 depending on the deal structure and down payment.
Yes. Most DSCR lenders allow LLC vesting. Bank Statement loans typically require title in your personal name.
Bank Statement loans often start at 10% down for primary homes, 20% for investment. DSCR loans typically require 20–25% down.
Yes. We see this often — a Bank Statement loan for a primary residence and a DSCR loan for a rental. Each loan qualifies independently.