Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended income documentation. We shop across 200+ wholesale lenders to find programs that give you the most flexibility.

Question 2

Which loan has stricter credit requirements?

Accepted Answer

Requirements vary by lender and loan structure. Generally, both non-QM options require stronger credit than a standard conventional loan.

Question 3

Do either of these loans work for rental or investment property in Alturas?

Accepted Answer

Yes, both can be used for investment properties. The income documentation rules still apply based on the program you choose.

Question 4

How much can I borrow with a 1099 or bank statement loan?

Accepted Answer

Loan limits vary by lender and your qualifying income. Rates vary by borrower profile and market conditions.

Question 5

How long does it take to close one of these loans?

Accepted Answer

Non-QM loans typically take longer than conventional loans. Having clean documentation ready speeds up the process significantly.

1099 Loans vs Bank Statement Loans in Alturas, CA