Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended documentation. We shop across 200+ wholesale lenders to find programs that fit your exact income picture.

Question 2

Do these loans work for Los Banos agricultural workers?

Accepted Answer

Yes. Seasonal or contract farm income paid via 1099 can qualify under a 1099 loan. Consistent deposit history also works under bank statement programs.

Question 3

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want a 620 minimum. Stronger scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

How much down payment is required?

Accepted Answer

Expect 10–20% down for most non-QM programs. Your credit score and loan amount affect where you fall in that range.

Question 5

Which loan closes faster?

Accepted Answer

1099 loans often close faster because the documents are simpler. Bank statement reviews take longer when lenders comb through 24 months of deposits.

Question 6

Are these loans available for investment properties in Los Banos?

Accepted Answer

Yes, both programs can fund investment properties. Non-QM guidelines vary by lender, so terms depend on the property and your profile.

1099 Loans vs Bank Statement Loans in Los Banos