Question 1

Can I use a DSCR loan to buy my primary home?

Accepted Answer

No. DSCR loans are for investment properties only. For a primary residence, a bank statement loan is the better fit.

Question 2

Do bank statement loans require good credit?

Accepted Answer

Most lenders want a 640 or higher for bank statement loans. Some go lower, but your rate improves significantly above 700.

Question 3

What DSCR ratio do lenders want to see?

Accepted Answer

Most lenders want a DSCR of 1.1 or higher. Some allow 1.0, but that typically comes with a higher rate.

Question 4

Which loan has lower rates — bank statement or DSCR?

Accepted Answer

Both carry higher rates than conventional loans. Rates vary by borrower profile and market conditions. Call us to compare.

Question 5

Can I qualify for both loans at the same time?

Accepted Answer

Yes. Some investors carry a bank statement loan on their home and DSCR loans on their rentals simultaneously.

Question 6

How long does approval take for these non-QM loans?

Accepted Answer

Non-QM lenders typically move slower than conventional. Plan for 20 to 30 days depending on the lender and file complexity.

Bank Statement vs DSCR Loans in Waterford, CA