Question 1

Can I use bank statement loans for investment property in Ojai?

Accepted Answer

No. Bank statement loans require primary residence or second home occupancy. Investment properties need DSCR or other investor loan programs.

Question 2

What counts as income on a bank statement loan?

Accepted Answer

Lenders average 12-24 months of deposits, then apply a percentage—usually 50-75%. Business expenses already reduced the deposit amount, so no further write-offs.

Question 3

Do DSCR loans require tax returns?

Accepted Answer

No. DSCR loans qualify entirely on projected rent and the property's DSCR ratio. Your personal income documentation isn't reviewed or required.

Question 4

Which loan has better rates in Ojai right now?

Accepted Answer

Rates are comparable—both price 1-2% above conventional. Your credit score and down payment affect pricing more than loan type. Rates vary by borrower profile and market conditions.

Question 5

Can I use DSCR for a short-term rental in Ojai?

Accepted Answer

Yes, if the rental income analysis supports a 1.0+ DSCR. Lenders use market rent data or an appraisal rental addendum to project income.

Bank Statement vs DSCR Loans in Ojai: Which Non-QM Option Works for You?