Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow combined documentation. We shop across 200+ wholesale lenders to find programs that accept hybrid income verification.

Question 2

What credit score do I need for these loans?

Accepted Answer

Most non-QM lenders want at least a 620 score. Stronger credit gets you better pricing on either program.

Question 3

How much do I need for a down payment?

Accepted Answer

Expect 10-20% down on most non-QM programs. Higher down payments can offset risk and improve your rate.

Question 4

Do these loans work for Emeryville condos or mixed-use buildings?

Accepted Answer

Property type matters. Some non-QM lenders restrict condo and mixed-use financing — we check program guidelines before you apply.

Question 5

Which loan closes faster in practice?

Accepted Answer

1099 loans typically have simpler underwriting. Bank statement loans require more document review and can take longer to process.

Question 6

Do my tax returns matter for either loan?

Accepted Answer

For bank statement loans, no — deposits are the measure. For 1099 loans, some lenders still pull returns to cross-reference reported income.

1099 Loans vs Bank Statement Loans in Emeryville