Question 1

Do I need two years of tax returns to qualify for a 1099 loan?

Accepted Answer

No. 1099 loans use 12 months of bank statements instead of tax returns. That's the whole point — you qualify on deposits, not reported income. Bring your business checking account statements and you're good.

Question 2

What credit score do I need for a 1099 loan in Dublin?

Accepted Answer

620 FICO is the floor. Lenders prefer 640 or higher for better rates. If you're at 620–639, expect a rate premium of 0.5% to 1% and possibly a larger down payment requirement.

Question 3

How much down payment is typical for a 1099 loan?

Accepted Answer

10% to 25% depending on your credit score, reserves, and how long you've been self-employed. Newer businesses (under three years) often need 20% to 25%. Established businesses with strong deposits can go as low as 10%.

Question 4

Can I get a 1099 loan if my business is less than two years old?

Accepted Answer

It's difficult but not impossible. Most lenders want 24 months of history. If you're under two years, you'll need a co-signer, a much larger down payment (25%+), or significant liquid reserves to offset the risk.

Question 5

How long does 1099 loan underwriting take?

Accepted Answer

Typically 15 to 21 days from application to clear-to-close. Broker channels often move faster than retail banks because they shop multiple underwriters.

1099 Loans in Dublin: Self-Employed Mortgages Built for Real Cash Flow