Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow blended documentation. We'll match you with lenders that allow this if it strengthens your file.

Question 2

Do I need two years of self-employment history?

Accepted Answer

Most non-QM lenders want at least 12 months in the same field. Two years makes approval smoother.

Question 3

What credit score do I need for these loans?

Accepted Answer

Most lenders start at 620 for non-QM products. Higher scores mean better pricing on both loan types.

Question 4

How much can I put down on a 1099 or bank statement loan?

Accepted Answer

Expect a minimum of 10% down. Larger down payments improve your rate and approval odds.

Question 5

Are these loans available for investment properties in Windsor?

Accepted Answer

Yes. Both loan types work for primary homes and investment properties. Reserve requirements are higher for rentals.

Question 6

Will my business write-offs hurt my qualification?

Accepted Answer

On 1099 loans, write-offs are largely ignored since gross income drives qualification. Bank statement loans apply a set expense ratio instead.

1099 Loans vs Bank Statement Loans in Windsor, CA