Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended documentation. We identify which approach produces the highest qualifying income for your file.

Question 2

Do these loans carry higher rates than conventional?

Accepted Answer

Yes, non-QM loans price above conventional. Rates vary by borrower profile and market conditions.

Question 3

What credit score do I need for either program?

Accepted Answer

Most lenders want at least 620. Stronger scores improve your rate on both 1099 and bank statement loans.

Question 4

How much can I put down in Coronado with these loans?

Accepted Answer

Most programs require 10% minimum down. Larger down payments often improve your rate and approval odds.

Question 5

Do these programs have loan limits?

Accepted Answer

No agency caps apply — these are non-QM loans. Lender overlays vary, so limits depend on the lender we place you with.

Question 6

Which loan closes faster in Coronado?

Accepted Answer

Both have similar timelines. Document preparation is usually the bottleneck, not the loan type itself.

1099 Loans vs Bank Statement Loans in Coronado