Question 1

Can I use a DSCR loan to buy a primary residence?

Accepted Answer

No. DSCR loans are investment property only. For a primary home, Bank Statement is the non-QM option.

Question 2

Do both loans require good credit?

Accepted Answer

Yes. Non-QM loans still have credit requirements. Stronger scores get better rates on both products. Rates vary by borrower profile and market conditions.

Question 3

What if my rental income barely covers the mortgage?

Accepted Answer

A DSCR at or just above 1.0 can still qualify. Below 1.0 is a problem — most lenders won't approve it.

Question 4

Can I use both loans if I own a business and rental properties?

Accepted Answer

Yes. Use Bank Statement for your primary home and DSCR for each investment property. They serve different purposes.

Question 5

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some want 24 months for a stronger income picture.

Question 6

Which loan closes faster?

Accepted Answer

DSCR often closes faster since it skips personal income review. Bank Statement requires more document analysis upfront.

Bank Statement vs DSCR Loans in Jamestown, CA

Bank Statement vs DSCR Loans in Jamestown, CA