Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow combined documentation. Ask us which lenders in our network accept blended income proof.

Question 2

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want a 620 or higher. Stronger scores get better rates — rates vary by borrower profile and market conditions.

Question 3

How much can I put down in Rio Vista?

Accepted Answer

Most non-QM programs require 10-20% down. Your loan-to-value ratio affects your rate and approval terms.

Question 4

Do these loans cost more than conventional loans?

Accepted Answer

Yes. Non-QM loans carry higher rates than conventional financing. The tradeoff is qualifying without W-2s or tax returns.

Question 5

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Twenty-four months gives underwriters a stronger picture and can improve terms.

Question 6

Which loan closes faster in Rio Vista?

Accepted Answer

1099 loans often move faster since the docs are simpler. Bank statement reviews take longer due to deposit analysis.

1099 Loans vs Bank Statement Loans in Rio Vista, CA