Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 13 days ago on . Most recent reply
What Are The Bank Statement Loans Advantages?
Hello Everyone!
How common is bank statement loans? recently heard of it but I'm not sure what are the advantages of it?
If I can get a good DSCR - in which cases I should consider Bank statement mortgages?
Thanks in advance!
Ron
Most Popular Reply
Bank statement loans are typically for 1099 workers or those without a stable W2 as they will look at your bank statements over your income / W2 information.
DSCR take into account the property not your bank statements BUT both will look at your credit score which in many instances is the deciding factor as typically need a score above 660.
- Chris Seveney
7e investments
16 Reviews
5.0 stars