Question 1

Can I use both 1099s and bank statements on the same application?

Accepted Answer

Some lenders allow hybrid documentation, but most require you to pick one income calculation method. Mixing methods typically slows underwriting without improving qualification.

Question 2

Which program offers better rates in Cerritos?

Accepted Answer

Pricing depends on credit, down payment, and income strength rather than program type. We shop both options across 200+ lenders to find your best rate.

Question 3

Do I need a CPA letter for either loan type?

Accepted Answer

Most bank statement programs don't require CPA letters. Some 1099 lenders ask for accountant verification if your income shows unusual patterns or gaps.

Question 4

How far back do lenders look at deposits or 1099 history?

Accepted Answer

1099 loans need two years of forms. Bank statement programs use 12-24 months depending on income consistency and lender requirements.

Question 5

Can I qualify with one year of self-employment?

Accepted Answer

Neither program works reliably with less than two years of business history. Lenders want proof your income stream is stable and repeatable.

1099 Loans vs Bank Statement Loans in Cerritos: Which Self-Employed Option Fits Your Deal?