Question 1

Can I use both loans at the same time?

Accepted Answer

Yes. Some investors use a bank statement loan for their primary home and a DSCR loan for a rental. They serve different purposes.

Question 2

Do DSCR loans require tax returns?

Accepted Answer

No. Lenders qualify the property, not you personally. No tax returns or pay stubs are needed.

Question 3

What credit score do I need for a bank statement loan?

Accepted Answer

Most lenders want at least a 620. Stronger scores get better pricing. Rates vary by borrower profile and market conditions.

Question 4

Can I buy a short-term rental with a DSCR loan?

Accepted Answer

Some lenders allow it. They may use projected rental income instead of a signed lease. Not every lender accepts short-term rental income.

Question 5

Do I need an LLC to get a DSCR loan in Corning?

Accepted Answer

No. You can close in your personal name. Many lenders offer DSCR loans to both individuals and LLCs.

Question 6

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, so get quotes on both before deciding.

Bank Statement vs DSCR Loans in Corning, CA