Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended income documentation. Ask us — the right lender depends on which method shows higher qualifying income.

Question 2

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want at least a 620 score. Stronger credit gets you better pricing on both loan types.

Question 3

How much can I put down on a non-QM loan?

Accepted Answer

Expect a minimum of 10% down for most non-QM programs. Lower down payments usually require stronger credit and reserves.

Question 4

Do these loans work for La Habra purchases and refinances?

Accepted Answer

Yes. Both 1099 and bank statement loans work for purchases and refinances in La Habra and throughout Orange County.

Question 5

Which loan closes faster — 1099 or bank statement?

Accepted Answer

1099 loans often have simpler documentation. Bank statement loans require more review time due to the deposit analysis.

1099 Loans vs Bank Statement Loans in La Habra