Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended documentation. We check which combination gets you the strongest qualifying income.

Question 2

Do these loans work for Vallejo condos and multi-units?

Accepted Answer

Yes. Both loan types can be used for single-family homes, condos, and small multi-unit properties in Vallejo.

Question 3

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some want 24 months for a stronger income picture.

Question 4

Will write-offs hurt me on a bank statement loan?

Accepted Answer

Lenders apply an expense ratio to deposits — not your tax deductions. Heavy write-offs on returns matter less here.

Question 5

Are rates higher on non-QM loans than conventional?

Accepted Answer

Yes. Non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 6

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want a 620-640 minimum. Stronger scores get better pricing on both programs.

1099 Loans vs Bank Statement Loans in Vallejo