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in Fairfield, CA
Self-employed borrowers in Fairfield have two strong non-QM paths. Neither requires W-2s or tax returns to prove income.
The right choice depends on how you get paid and how you track your money. Both loans are built for people who work for themselves.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — not bank deposits — to calculate income.
This works well if clients pay you by 1099 and your business expenses are high. High write-offs hurt you on taxes but not on this loan.
Bank statement loans use 12 to 24 months of deposits to verify income. Lenders average your monthly deposits to set a qualifying number.
This works for any self-employed borrower — not just 1099 earners. Business owners who invoice clients or take distributions can qualify too.
The core difference is documentation. 1099 loans use forms from your clients. Bank statement loans use your actual deposit history.
Bank statement loans pull from a wider lender pool. More lenders offer them, which usually means more rate competition for Fairfield borrowers.
If you're a pure contractor paid by 1099 with strong gross income, the 1099 loan is cleaner. Fewer moving parts, faster underwriting.
If your income is mixed or comes from a business account, go with bank statements. It gives underwriters a fuller picture of your cash flow.
Most lenders pick one method — not both. We'll run your numbers each way and use whichever gives you the higher qualifying income.
Yes. Non-QM loans carry more risk for lenders, so rates run higher. Rates vary by borrower profile and market conditions.
Most lenders want 1 to 2 years of 1099 forms. Some also ask for a letter confirming your business is still active as of April 2026.
Both programs typically require at least a 620 score. Some lenders go lower, but expect tighter terms below 680.
Yes. Both loan types are available for investment purchases in Solano County, not just primary residences.
Expect 10% to 20% down for most scenarios. Lower credit scores or higher loan amounts usually push toward 20% or more.