Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow combined documentation. Most programs require you to pick one method. We can match you to lenders who accept hybrid income docs.

Question 2

Which loan has a lower minimum credit score?

Accepted Answer

Both programs typically require a 620–640 minimum. Some lenders go lower with a larger down payment. Terms depend on your full borrower profile.

Question 3

Do these loans work for Livingston agricultural workers paid by 1099?

Accepted Answer

Yes, if your 1099 income is documented over 12–24 months. Seasonal gaps can complicate qualification. A broker review helps before you apply.

Question 4

What down payment do these loans require?

Accepted Answer

Most non-QM programs require 10–20% down. Exact amounts vary by lender, loan size, and credit score.

Question 5

Are bank statement loans available in Merced County?

Accepted Answer

Yes. We work with wholesale lenders who fund these loans throughout Merced County, including Livingston.

Question 6

How long does it take to close a 1099 or bank statement loan?

Accepted Answer

Non-QM loans typically close in 21–30 days. Having 24 months of clean statements or 1099s ready speeds the process significantly.

1099 Loans vs Bank Statement Loans in Livingston, CA