Question 1

Can I use both 1099s and bank statements together?

Accepted Answer

Some lenders allow it, but most non-QM programs pick one method. We'll run your file both ways to see which income calc works better.

Question 2

What credit score do I need for these loans?

Accepted Answer

Most non-QM lenders want at least a 620. Stronger scores get better rates and terms on both programs.

Question 3

How much can I put down in Sonora with a non-QM loan?

Accepted Answer

Expect a minimum of 10–20% down. Non-QM loans carry more risk for lenders, so down payment requirements are higher than conventional.

Question 4

Do these loans work for a Sonora vacation or second home?

Accepted Answer

Yes. Both programs can cover primary residences and second homes. Investment property options exist too, depending on the lender.

Question 5

Are 1099 loans harder to get than bank statement loans?

Accepted Answer

Not necessarily. 1099 loans are often simpler if your income is straightforward. The harder part is finding lenders who offer them — we have access to both.

1099 Loans vs Bank Statement Loans in Sonora, CA