Loading
in Turlock, CA
Most Turlock self-employed borrowers get turned down by conventional lenders. Tax returns don't tell the full story when you write off everything.
Two non-QM options solve this problem differently. Knowing which one fits your income structure saves time and gets you approved faster.
1099 loans use your 1099 forms to prove income. This works best for independent contractors with one or two consistent clients.
Lenders typically use 1-2 years of 1099s. No business bank account needed — personal contractor income is enough.
Bank statement loans look at 12 to 24 months of deposits. Lenders calculate income from what actually hits your account.
This works well for business owners with variable income. It captures revenue that tax returns bury under deductions.
1099 loans are simpler — fewer documents, faster review. Bank statement loans require more paperwork but capture a fuller income picture.
If your 1099 income is strong and steady, go that route. If you run a business with mixed revenue streams, bank statements show more.
Turlock has a strong contractor and agricultural services workforce. If you earn consistent 1099 income from a few clients, start there.
Own a shop, run a crew, or have multiple income streams? Bank statement loans handle that complexity better. Talk to us — we place both.
Some lenders allow blended documentation. Ask us which lenders in our network accept combined income proof.
Non-QM loans often require 10-20% down. Exact requirements depend on your credit and income profile.
Yes. Non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.
Most lenders want 12 months minimum. Some require 24 months for a stronger income average.
Most non-QM lenders want at least a 620. Higher scores get better pricing on both loan types.
1099 loans typically close faster — fewer documents to review. Bank statement loans add processing time.