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in Rohnert Park, CA
Self-employed borrowers in Rohnert Park get rejected by conventional lenders constantly. Your tax returns show too little income after deductions — that's not a bug, that's the point.
Two non-QM loan types solve this: 1099 loans and bank statement loans. Both skip W-2s. But they qualify you differently, and the wrong choice costs you the deal.
1099 loans are built for independent contractors and freelancers. Lenders use your 1099 forms — not bank deposits — to calculate qualifying income.
This works best if your clients pay you on 1099 and your statements are messy with business expenses mixed in. The 1099s tell a cleaner income story.
Bank statement loans use 12 to 24 months of deposits to calculate your income. Lenders apply an expense ratio — usually 50% — to determine what counts.
This fits business owners who run revenue through a dedicated business account. The higher your consistent deposits, the stronger your qualifying income looks.
1099 loans look at what clients paid you directly. Bank statement loans look at what actually hit your account. Those numbers can differ a lot.
If you write off heavy expenses, your deposits may understate real income — a 1099 loan avoids that problem. If your clients pay via ACH into a clean account, bank statements win.
Rohnert Park has a strong base of contractors, consultants, and gig workers in the North Bay tech corridor. If you're billing clients on 1099, that loan type matches your paper trail.
Business owners depositing consistent revenue into a separate account often qualify for more using bank statements. Run both scenarios — we do this every day and the difference can be significant.
You can run both scenarios before committing. We calculate qualifying income under each method and show you which gets you to a higher loan amount.
Most lenders want 1-2 years of 1099s. Some accept one year if your income is strong and consistent.
Most lenders apply a 50% expense ratio to business deposits. Personal account deposits are often taken at a higher percentage.
Yes. Both are non-QM products. Rates vary by borrower profile and market conditions, but expect a premium over conventional pricing.
Most non-QM lenders want at least a 620. Stronger scores above 680 open up better rate tiers on both loan types.
1099 loans often move faster — fewer documents to review. Bank statement loans require lenders to analyze months of transactions, which adds time.