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in Dixon, CA
Self-employed borrowers in Dixon have two strong non-QM options. Neither requires W-2s or tax returns to prove income.
The right choice depends on how you get paid. Your income documentation type usually decides this — not your credit score.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — not bank deposits — to calculate income.
This works well if your business expenses are high. Tax returns would show low net income, but your 1099s tell the real story.
Bank statement loans work for self-employed borrowers who run income through a business or personal account. Lenders average 12 to 24 months of deposits.
This program fits business owners, consultants, and gig workers. If you have strong cash flow but messy tax returns, this is your path.
Local decision guide
Use this comparison to weigh 1099 Loans and Bank Statement Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Dixon.
Self-employed borrowers in Dixon have two strong non-QM options. Neither requires W-2s or tax returns to prove income.
The right choice depends on how you get paid. Your income documentation type usually decides this — not your credit score.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — not bank deposits — to calculate income.
The core difference is how income gets documented. 1099 loans use tax forms. Bank statement loans use deposit history.
Bank statement loans are more flexible on income sources. 1099 loans require a clear paper trail of 1099 earnings from clients or payers.
If you're a freelancer or contractor paid by clients who send 1099s, the 1099 loan is cleaner. Fewer moving parts, faster doc review.
If you're a business owner mixing income streams, bank statement loans handle that better. Bring 24 months of statements and your case gets stronger.
Some lenders allow a combination, but most non-QM programs pick one method. Your broker picks the approach that shows the strongest income.
Yes. Both programs apply to purchases and refinances in Dixon. Non-QM loans are available throughout Solano County.
Most non-QM lenders want at least a 620, though some go lower with a larger down payment. Rates vary by borrower profile and market conditions.
Expect 10% to 20% down for most non-QM programs. Stronger credit and more reserves can sometimes lower that requirement.
Yes, non-QM rates run higher than conventional rates. The tradeoff is qualifying without W-2s or tax return income. Rates vary by borrower profile and market conditions.
1099 loans often close faster — fewer documents to analyze. Bank statement loans take longer when lenders review 24 months of deposits.