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in St. Helena, CA
St. Helena runs on self-employment. Wine industry owners, consultants, and contractors dominate the local economy.
Two non-QM loans serve this crowd: 1099 loans and bank statement loans. Picking the wrong one costs you time and money.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — not tax returns — to calculate income.
This matters because contractors often write off very little. Your 1099 income stays high on paper, which helps you qualify.
Bank statement loans use 12 to 24 months of deposits to prove income. No tax returns, no W-2s required.
This fits self-employed borrowers who run businesses with real cash flow. Heavy write-offs on taxes don't disqualify you here.
The core split: 1099 loans look at what clients paid you. Bank statement loans look at what hit your account.
Rates vary by borrower profile and market conditions. Both loan types carry higher rates than conventional loans — that's the trade-off for skipping standard income docs.
If you freelance or contract and get paid via 1099 with few deductions, the 1099 loan is your cleaner path.
If you own a business, run expenses through it, and have strong monthly deposits, bank statement lending fits better.
Some lenders allow blended doc programs. We shop across 200+ wholesale lenders to find who accepts your specific income mix.
Yes. Both programs are designed for self-employed borrowers. Bank statement loans tend to fit winery owners best.
Most lenders require 12 months minimum. Some programs want 24 months for stronger qualification.
Less than you'd think. 1099 loans focus on gross 1099 income, not net after deductions. Your write-offs carry less weight.
Both are non-QM loans and typically require at least a 620 credit score. Some lenders go lower with stronger assets.
Timelines depend on documentation readiness. Having 12 months of clean statements or two years of 1099s ready speeds things up.