Question 1

Can I use both 1099 forms and bank statements together?

Accepted Answer

Some lenders blend documentation, but most require one method. We structure your application around whichever income source shows stronger qualifying numbers.

Question 2

Do both programs require the same down payment in Temple City?

Accepted Answer

Minimum down payments start at 15% for both. Stronger files can go lower, but expect 20% down to get best pricing on either program.

Question 3

Which program closes faster for Temple City purchases?

Accepted Answer

1099 loans close slightly faster because tax returns are simpler to verify. Bank statement underwriting adds 3-5 days for deposit analysis.

Question 4

Can I switch programs mid-application if one doesn't work?

Accepted Answer

Yes, we pivot between programs when initial income calculations fall short. Having both documentation sets ready speeds up the switch.

Question 5

Do investment properties qualify for both loan types?

Accepted Answer

Both programs work for investment properties in Temple City. Expect higher rates and 20-25% minimum down payments for non-owner occupied deals.

1099 Loans vs Bank Statement Loans in Temple City: Which Non-QM Option Fits Your Business?