Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow a hybrid approach. We can identify which wholesale lenders in our network offer that option for your profile.

Question 2

Which loan has lower rates in Santee?

Accepted Answer

Rates vary by borrower profile and market conditions. We compare pricing across 200+ lenders to find the best rate for your specific situation.

Question 3

Do both loans require a minimum credit score?

Accepted Answer

Yes. Most lenders set a floor around 620 to 660 for both programs. Stronger credit scores open up better pricing.

Question 4

How much can I put down on either loan?

Accepted Answer

Most non-QM programs require at least 10% down. Larger down payments often improve your rate and approval odds.

Question 5

Can I use these loans to buy in Santee specifically?

Accepted Answer

Yes, both loan types are available in Santee. Property type and loan amount may affect which lenders will fund the deal.

Question 6

How long does approval take for non-QM loans?

Accepted Answer

Non-QM loans typically take longer than conventional — expect 30 to 45 days. Having clean documentation ready speeds things up.

1099 Loans vs Bank Statement Loans in Santee