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, you'd need a bank statement loan or another program.

Question 2

Do bank statement loans require good credit?

Accepted Answer

Yes. Most lenders want a 660 or higher. Some go down to 620 with compensating factors like larger down payments.

Question 3

What down payment do DSCR loans require?

Accepted Answer

Most DSCR lenders require 20 to 25 percent down. Some allow less with stronger cash flow ratios.

Question 4

Can I get a DSCR loan under an LLC?

Accepted Answer

Yes. DSCR loans are LLC-friendly. That's one reason investors prefer them for building a rental portfolio.

Question 5

Which loan closes faster in Wheatland?

Accepted Answer

DSCR loans often move faster. There's no personal income analysis — underwriting focuses on the property's rent numbers.

Question 6

Can I use both loan types at the same time?

Accepted Answer

Yes. A self-employed investor could use a bank statement loan for their home and a DSCR loan for a rental property simultaneously.

Bank Statement vs DSCR Loans in Wheatland, CA