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 accept combined income evidence.

Question 2

Do these loans work for Napa County property prices?

Accepted Answer

Non-QM loan limits vary by lender. Many go well above conforming limits, which matters in higher-priced Napa County neighborhoods.

Question 3

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want at least a 620 score. Better rates start around 700. The higher your score, the more lenders compete for your deal.

Question 4

How much do I need to put down?

Accepted Answer

Expect 10-20% down for most non-QM programs. Some lenders go lower with stronger reserves or credit.

Question 5

Is my self-employment income too inconsistent to qualify?

Accepted Answer

Inconsistent income is exactly what these loans are designed for. Lenders average deposits or 1099 totals over 12-24 months to smooth it out.

Question 6

How long does it take to close a non-QM loan?

Accepted Answer

Non-QM loans typically close in 21-30 days. Having your statements or 1099s organized upfront speeds the process.

1099 Loans vs Bank Statement Loans in American Canyon