Question 1

Can I use a bank statement loan to buy a rental property?

Accepted Answer

Yes. Bank statement loans work on investment properties. But if the rental income alone covers the mortgage, DSCR may get you better terms.

Question 2

Do DSCR loans check my credit score?

Accepted Answer

Yes. Most DSCR lenders require a 620 to 680 minimum credit score. Higher scores get better rates. Rates vary by borrower profile and market conditions.

Question 3

How many months of bank statements do I need?

Accepted Answer

Most lenders want 12 months minimum. Some programs require 24 months for higher loan amounts or lower credit scores.

Question 4

Can I close a DSCR loan in an LLC?

Accepted Answer

Yes. Most DSCR lenders allow LLC vesting. That's one reason investors prefer DSCR over bank statement loans for rentals.

Question 5

Which loan is faster to close in Exeter?

Accepted Answer

DSCR loans often close faster — there's less personal income documentation to collect. Bank statement loans take longer to underwrite.

Question 6

Are both loans available in Tulare County?

Accepted Answer

Yes. We work with wholesale lenders who actively fund both products in Tulare County, including rural and agricultural areas like Exeter.

Bank Statement vs DSCR Loans in Exeter, CA