Question 1

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

Accepted Answer

Some lenders allow hybrid documentation. A broker can match you with one that accepts the combo.

Question 2

Do these loans work for Kern County property prices?

Accepted Answer

Non-QM lenders set their own loan limits. Many go well above conventional limits for qualified borrowers.

Question 3

What credit score do I need for these loans?

Accepted Answer

Most non-QM lenders want at least a 620. Some go lower, but rates climb fast below that threshold.

Question 4

How much down payment is required?

Accepted Answer

Expect 10% minimum for strong profiles. Lower credit or shorter income history typically means 20% or more.

Question 5

Are these loans harder to get approved in a small market like Taft?

Accepted Answer

The property matters more than the city. Non-QM lenders focus on your income docs and the appraisal.

Question 6

How long does it take to close a non-QM loan?

Accepted Answer

Plan for 21 to 30 days with clean docs. Delays usually come from incomplete bank statement packages.

1099 Loans vs Bank Statement Loans in Taft, CA