Question 1

Can I use both 1099s and bank statements?

Accepted Answer

Some lenders allow both. A broker can find programs that blend documentation types if one alone doesn't fully support your income.

Question 2

Do these loans work in Colton specifically?

Accepted Answer

Yes. Non-QM lenders operate statewide. Your property location in San Bernardino County doesn't restrict access to either program.

Question 3

How many months of 1099s do I need?

Accepted Answer

Most lenders want one to two years of 1099s. Two years is stronger — it shows consistent contractor income over time.

Question 4

Are bank statement loans harder to qualify for?

Accepted Answer

Not necessarily harder — just different. Your average monthly deposits need to support the payment. Irregular deposit months can hurt your qualifying income.

Question 5

Do either of these loans require tax returns?

Accepted Answer

No. That's the point of both programs. They replace tax return income verification with alternative documentation.

1099 Loans vs Bank Statement Loans in Colton