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in Roseville, CA
Most Roseville self-employed borrowers get turned down by conventional lenders. That's not a dead end — it's a routing problem.
Two non-QM options solve it differently. Which one fits depends on how you get paid and how you track income.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms to verify income — no tax returns required.
This matters because contractors often write off heavy expenses. Tax returns make income look lower than it really is.
Bank statement loans work for self-employed borrowers with business or personal accounts. Lenders average 12 to 24 months of deposits to calculate income.
Business owners and sole proprietors with multiple revenue streams tend to qualify more easily here than with 1099 loans.
Local decision guide
Use this comparison to weigh 1099 Loans and Bank Statement Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Roseville.
Most Roseville self-employed borrowers get turned down by conventional lenders. That's not a dead end — it's a routing problem.
Two non-QM options solve it differently. Which one fits depends on how you get paid and how you track income.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms to verify income — no tax returns required.
1099 loans use documented contract income. Bank statement loans use deposited cash flow. Same borrower, very different qualifying numbers depending on your setup.
Rates vary by borrower profile and market conditions. Both loan types price higher than conventional — but the gap between them is often smaller than borrowers expect.
If you get 1099s from clients and don't run a separate business account, start with a 1099 loan. It's cleaner and faster to document.
If you own a business, have mixed income sources, or deposit cash regularly, bank statements will likely show a stronger income picture.
Some lenders allow blended income documentation. We shop across 200+ wholesale lenders to find programs that accept your specific income mix.
Yes. Both 1099 and bank statement loans have jumbo options. Loan limits vary by lender and your qualifying income.
Most non-QM lenders want at least 620-640. Higher scores open better rates and lower down payment options.
Expect 10-20% down for most non-QM programs. Exact requirements depend on credit score, loan size, and lender guidelines.
On a 1099 loan, no — gross 1099 income is used. Bank statement loans may apply an expense ratio, which can reduce your qualifying number.
Non-QM loans typically close in 21-30 days. Having 12-24 months of clean statements or 1099s ready speeds things up.