Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended documentation. We can identify which wholesale lenders in our network offer that option.

Question 2

How many months of 1099s do I need?

Accepted Answer

Most lenders want 1 to 2 years of 1099 forms. More history strengthens your file.

Question 3

Do bank statement loans require 24 months of statements?

Accepted Answer

Some lenders accept 12 months. Rates and terms vary by borrower profile and market conditions.

Question 4

Are these loans available for Lathrop properties?

Accepted Answer

Yes. Both programs work for single-family homes in San Joaquin County. Property type can affect lender options.

Question 5

Will my rate be higher than a conventional loan?

Accepted Answer

Non-QM loans carry more risk for lenders, so rates are higher. Rates vary by borrower profile and market conditions.

Question 6

What credit score do I need for either program?

Accepted Answer

Most non-QM lenders want at least a 620. Stronger scores open better pricing on both loan types.

1099 Loans vs Bank Statement Loans in Lathrop