Question 1

Can I use both 1099s and bank statements to qualify?

Accepted Answer

Some lenders allow blended docs, but most want one approach. We'll figure out which method shows your income in the best light.

Question 2

How many years of 1099s do I need for a 1099 loan?

Accepted Answer

Most lenders want one to two years of 1099s. Consistency matters — irregular 1099 history makes approval harder.

Question 3

Do bank statement loans use personal or business accounts?

Accepted Answer

Either works, but lenders apply a higher expense ratio to business accounts. Personal accounts often produce a higher qualifying income.

Question 4

Are these loans available for Maricopa home purchases?

Accepted Answer

Yes, both programs work for purchases in Maricopa. Non-QM lending is active throughout Kern County.

Question 5

Which loan has stricter credit requirements?

Accepted Answer

Both programs are flexible, but requirements vary by lender. We shop across 200-plus wholesale lenders to find the best fit for your score.

Question 6

Can I refinance with a 1099 or bank statement loan?

Accepted Answer

Yes. Both programs allow rate-and-term and cash-out refinances. Self-employed borrowers use these to exit hard money loans regularly.

1099 Loans vs Bank Statement Loans in Maricopa, CA