Question 1

Can I use a DSCR Loan to buy a primary residence in Simi Valley?

Accepted Answer

No. DSCR Loans are investment property only. For a primary residence, Bank Statement is the right Non-QM option.

Question 2

Do Bank Statement Loans work for rental properties?

Accepted Answer

Yes. Self-employed investors can use Bank Statement Loans on rentals. But DSCR often has simpler qualification for that purpose.

Question 3

Which loan has stricter credit requirements?

Accepted Answer

Both are Non-QM and credit-flexible, but minimum scores vary by lender. We match you to lenders based on your actual profile.

Question 4

How many months of bank statements do I need?

Accepted Answer

Most lenders want 12 to 24 months. Business accounts may need an expense factor applied to calculate usable income.

Question 5

What DSCR ratio do Simi Valley lenders typically require?

Accepted Answer

A ratio of 1.0 or higher is the standard. Some lenders allow below 1.0 with stronger credit or a larger down payment.

Question 6

Can I have both loan types at the same time?

Accepted Answer

Yes. Many investors use a Bank Statement Loan on their home and DSCR Loans across their rental portfolio.

Bank Statement vs DSCR Loans in Simi Valley