Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow it. SRK CAPITAL shops across 200+ wholesale lenders to find who accepts blended documentation.

Question 2

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want at least a 620. Higher scores open better pricing on both products.

Question 3

How much do these loans cost compared to conventional?

Accepted Answer

Expect higher rates than conventional financing. Rates vary by borrower profile and market conditions.

Question 4

Do these loans work for Yucca Valley properties?

Accepted Answer

Yes. Both programs apply to single-family homes in Yucca Valley. Rural or desert properties may need appraisal review.

Question 5

How far back do lenders look at my bank statements?

Accepted Answer

Typically 12 to 24 months. Lenders want to see consistent deposits, not one large recent transfer.

Question 6

Which loan closes faster?

Accepted Answer

1099 loans often move quicker — fewer documents to analyze. Bank statement loans take longer due to deposit review.

1099 Loans vs Bank Statement Loans in Yucca Valley