Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow it. Most require you to pick one method. We know which wholesale lenders offer hybrid options.

Question 2

Which loan has lower rates in Hanford?

Accepted Answer

Neither is consistently cheaper. Rates depend on credit, down payment, and the lender. Rates vary by borrower profile and market conditions.

Question 3

How much do I need to put down?

Accepted Answer

Most non-QM lenders in this category want 10–20% down. Stronger credit can reduce that requirement depending on the lender.

Question 4

What credit score do I need for either loan?

Accepted Answer

Most lenders set a floor around 620–640 for both programs. Higher scores open better rate tiers.

Question 5

Do these loans work for Kings County property types?

Accepted Answer

Yes. Both programs cover single-family homes and small multi-unit properties common across Kings County.

Question 6

How long does it take to close on these loans?

Accepted Answer

Non-QM loans typically close in 21–30 days. Gathering 12–24 months of documents upfront keeps the timeline tight.

1099 Loans vs Bank Statement Loans in Hanford, CA