Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended documentation. We can shop that option across our network if neither standalone approach maximizes your qualifying income.

Question 2

How many months of bank statements do lenders require?

Accepted Answer

Most require 12 months minimum. Some programs use 24 months for a more accurate income average.

Question 3

Do 1099 loans require tax returns?

Accepted Answer

No. That's the point. Lenders calculate income directly from your 1099 forms, skipping the tax return entirely.

Question 4

What credit score do I need for these loans in Laguna Hills?

Accepted Answer

Most non-QM lenders want a 620 minimum. Better pricing kicks in at 680 and above.

Question 5

Are these loans harder to get approved in Orange County?

Accepted Answer

Approval depends on your income documentation and credit, not the county. Orange County's higher home prices do mean larger loan amounts, which non-QM handles well.

Question 6

Which loan closes faster — 1099 or bank statement?

Accepted Answer

1099 loans typically close faster. Bank statement reviews take longer because underwriters manually calculate deposit income.

1099 Loans vs Bank Statement Loans in Laguna Hills