Question 1

Can I use a DSCR Loan for a primary residence in San Buenaventura?

Accepted Answer

No. DSCR Loans are investment property only. For a primary home, you'd need a Bank Statement Loan or a conventional option.

Question 2

Do both loans require good credit?

Accepted Answer

Yes. Non-QM doesn't mean no credit check. Most lenders want 660+ for Bank Statement and 680+ for DSCR, though minimums vary.

Question 3

Which loan closes faster?

Accepted Answer

DSCR Loans often move quicker. There's no income analysis — just rent versus debt. Bank Statement reviews take more underwriter time.

Question 4

Can I use both loans on different properties?

Accepted Answer

Absolutely. Many investors in Ventura County use Bank Statement Loans on their primary and DSCR Loans on their rentals.

Question 5

What down payment do these loans require?

Accepted Answer

Expect 20–25% down for both. Non-QM lenders want real skin in the game, especially on investment properties.

Question 6

Are rates higher than conventional loans?

Accepted Answer

Yes, typically. Non-QM carries more lender risk, so rates run higher. Rates vary by borrower profile and market conditions.

Bank Statement vs DSCR Loans in San Buenaventura