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in Ross, CA
Ross runs on self-employed income. Consultants, contractors, and business owners dominate this zip code — and most of them can't qualify with W-2s alone.
Two non-QM loan types serve this borrower profile: 1099 loans and bank statement loans. Picking the right one depends on how your income flows and how you file.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — typically one to two years — to calculate qualifying income.
This works best when your 1099 income is consistent and your write-offs are minimal. If you take heavy deductions, your 1099s may still show strong gross income where tax returns wouldn't.
Bank statement loans qualify you on actual cash deposits — not tax forms. Lenders review 12 to 24 months of personal or business bank statements.
This fits business owners who write off significant expenses. Your taxable income might be low on paper, but your deposits tell the real story.
Local decision guide
Use this comparison to weigh 1099 Loans and Bank Statement Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Ross.
Ross runs on self-employed income. Consultants, contractors, and business owners dominate this zip code — and most of them can't qualify with W-2s alone.
Two non-QM loan types serve this borrower profile: 1099 loans and bank statement loans. Picking the right one depends on how your income flows and how you file.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — typically one to two years — to calculate qualifying income.
The core difference is what lenders look at. 1099 loans use your earnings forms. Bank statement loans use your actual deposit history. Same borrower, different evidence.
Business owners with high deductions usually fare better on bank statements. Pure contractors with clean 1099s and fewer write-offs often qualify more easily with the 1099 method.
Freelancer billing through a single client with consistent 1099s? That loan was designed for you. The documentation is straightforward and the income calculation is direct.
Running a business with real revenue but aggressive deductions? Bank statements show lenders what's actually coming in. In a high-price market like Ross, that difference in qualifying income matters.
Some lenders allow blended documentation. Ask your broker which approach produces the higher qualifying income for your profile.
Neither program requires tax returns as the primary income document. That's the core reason self-employed borrowers use them.
Most non-QM lenders want at least a 660 credit score. Stronger scores get better rates — rates vary by borrower profile and market conditions.
Expect a minimum of 10-20% down. Higher loan amounts in Marin County may push that requirement up depending on the lender.
Yes. Sole proprietors often lean toward 1099 loans. S-corp and LLC owners typically benefit more from the bank statement approach.
Non-QM rates run higher than conventional. The trade-off is qualifying without traditional income docs. Rates vary by borrower profile and market conditions.