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in Turlock, CA
Both loans skip W-2s and tax returns entirely. That's where the similarity ends.
Bank statement loans serve self-employed borrowers. DSCR loans serve real estate investors. Turlock has both — and each type needs the right tool.
Bank statement loans verify income using 12 to 24 months of deposits. Lenders average those deposits to calculate your qualifying income.
This works well for Turlock's self-employed borrowers — business owners, contractors, and farmers who write off too much to show strong taxable income.
DSCR loans qualify based on the rental property's cash flow — not yours. Lenders divide the property's gross rent by its monthly debt payment.
A DSCR above 1.0 means the rent covers the mortgage. Many lenders want 1.1 or higher. Your personal income doesn't enter the equation.
Bank statement loans are tied to you — your income, your credit, your primary or secondary property. DSCR loans are tied to the deal.
Rates on both products run higher than conventional loans. Rates vary by borrower profile and market conditions. DSCR loans may carry slightly higher rates depending on the property's cash flow ratio.
If you run a business in Turlock and want to buy a home or refinance — bank statement loan. Your deposits tell the story your taxes can't.
If you're buying a rental in Turlock and want approval driven by rent rolls — DSCR. It's cleaner, faster, and doesn't touch your personal financials.
No. DSCR loans are for investment properties only. Use a bank statement loan for a primary or second home.
Most lenders start at 620 to 640. Better credit gets you better pricing on non-QM products.
Most lenders want 1.1 or above. A property renting for exactly what the mortgage costs usually isn't enough.
Yes. Most lenders accept business accounts. They may apply an expense factor to calculate net qualifying income.
DSCR typically closes faster. There's no income analysis — just rent and debt. Bank statement reviews take more time.
Yes. Many clients use bank statement loans for their own home and DSCR loans for rentals. We structure both.