Question 1

Can I use both 1099s and bank statements to qualify?

Accepted Answer

Some lenders allow it, but most programs pick one method. SRK CAPITAL shops across 200+ lenders to find programs that fit your exact income structure.

Question 2

Which loan has the lower rate in Ontario?

Accepted Answer

Neither is consistently cheaper. Rates vary by borrower profile and market conditions. Your credit score and down payment matter more than the loan type.

Question 3

Do I need two years of self-employment history?

Accepted Answer

Most lenders want at least one to two years. Some bank statement programs accept 12 months. The requirement depends on the lender and your income consistency.

Question 4

What credit score do I need for these loans?

Accepted Answer

Most non-QM lenders in this space want at least a 620. Stronger scores get better terms on both programs.

Question 5

Are these loans available for Ontario investment properties?

Accepted Answer

Yes. Both programs can finance primary residences and investment properties. Investment transactions typically require a larger down payment.

Question 6

How much can I borrow with a 1099 or bank statement loan in Ontario?

Accepted Answer

Loan limits depend on the lender and your income. Non-QM programs often go above conventional limits. SRK CAPITAL will match you with the right lender range.

1099 Loans vs Bank Statement Loans in Ontario, CA