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in Sausalito, CA
Sausalito attracts freelancers, consultants, and self-employed professionals. Most of them can't qualify with a W-2 — so standard loans are off the table.
Two non-QM options dominate here: 1099 loans and bank statement loans. Picking the right one depends on how you get paid and how you track income.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — typically one to two years — instead of tax returns.
This works well if your clients issue 1099s and your gross income is clear on those forms. Deductions that kill your tax return don't hurt you here.
Bank statement loans use 12 to 24 months of deposits to calculate your income. Lenders look at what actually hits your account, not what the IRS sees.
This fits business owners, consultants, and creatives who don't receive 1099s but run real revenue through their accounts.
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 Sausalito.
Sausalito attracts freelancers, consultants, and self-employed professionals. Most of them can't qualify with a W-2 — so standard loans are off the table.
Two non-QM options dominate here: 1099 loans and bank statement loans. Picking the right one depends on how you get paid and how you track income.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — typically one to two years — instead of tax returns.
The core difference is your income source. 1099 loans need documented payments from clients. Bank statement loans need consistent deposit history.
Bank statement loans typically allow more lender flexibility on income calculation. But they often carry slightly higher rates than 1099 loans. Rates vary by borrower profile and market conditions.
If you freelance or contract and your clients issue 1099s, start there. Your income documentation is already clean and lenders can verify it fast.
If you own a business, collect payments through multiple channels, or your income doesn't show up on 1099s — bank statements are your path. We work with 200+ wholesale lenders and can match you to the right program for how you actually earn.
Some lenders accept both to strengthen your file. We can find programs that layer multiple income sources.
Most lenders want at least two years. Some accept one year with strong compensating factors like reserves or high credit.
Most non-QM lenders start at 620. Better scores get better rates — and in Sausalito's price range, that matters.
Non-QM loans can go into jumbo territory. Loan limits depend on the lender and your qualifying income.
Yes, non-QM rates run higher than conventional. The trade-off is qualifying without tax returns. Rates vary by borrower profile and market conditions.