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in Barstow, CA
Self-employed borrowers in Barstow get rejected by conventional lenders daily. Your tax returns don't tell the full story — these two Non-QM loans do.
Both programs skip the W-2 requirement. But they qualify your income differently, and that gap matters for approval.
1099 loans are built for contractors, gig workers, and freelancers. Lenders use your 1099 forms — not your tax return — to calculate income.
This matters because most self-employed borrowers write off expenses heavily. Your net income looks low. Your 1099 income tells a truer story.
Bank statement loans use 12 to 24 months of deposits to verify income. Lenders apply an expense ratio and calculate your average monthly earnings.
This works well for business owners with multiple income streams. It captures cash flow that 1099s alone may not reflect.
The core difference is how income gets documented. 1099 loans use your earnings forms. Bank statement loans use actual cash deposits.
If you have one main client and clean 1099s, the 1099 loan is simpler. Mixed income sources? Bank statements often capture more qualifying income.
Pick the 1099 loan if you work as an independent contractor with consistent clients and clear annual 1099 forms.
Choose bank statements if you own a business, have multiple clients, or your deposits reflect income better than your 1099s do.
Yes. SRK CAPITAL runs both scenarios. We show you which program qualifies you for more.
Non-QM loans carry higher rates than conventional financing. Rates vary by borrower profile and market conditions.
Most lenders want 12 to 24 months of 1099s. Two years gives you the strongest file.
Requirements differ by lender. SRK CAPITAL shops 200+ wholesale lenders to find the best fit for your credit profile.
That's common for business owners. Bank statement loans often work better when deposits exceed your 1099 totals.
Yes. Both Non-QM programs are available in San Bernardino County. Property type and loan amount affect lender options.