Question 1

Can I apply for both loan types at once?

Accepted Answer

No, you pick one program per application. We review your income docs first and recommend the stronger qualifying path.

Question 2

Do these loans have higher rates than conventional?

Accepted Answer

Non-QM loans typically carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 3

How many years of 1099s do lenders want?

Accepted Answer

Most lenders require one to two years of 1099 forms. Consistent income across both years strengthens your file.

Question 4

What credit score do I need for these loans?

Accepted Answer

Most non-QM lenders want at least a 620 score. Higher scores improve your rate on both programs.

Question 5

Can a Dublin borrower use personal bank statements instead of business?

Accepted Answer

Yes. Personal statements work if your income deposits there consistently. Business statements may require an expense ratio adjustment.

Question 6

Which loan allows a higher loan amount in Alameda County?

Accepted Answer

Both programs can go into jumbo territory. The qualifying income calculation determines your actual ceiling, not the program itself.

1099 Loans vs Bank Statement Loans in Dublin, CA