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Oakland runs on freelancers, contractors, and gig workers. The Bay Area's independent workforce is one of the largest in the country.
Standard loans reject 1099 earners based on tax write-offs. Your net income on paper often looks nothing like what you actually earn.
620+
Min Credit Score
2 Years
1099 History Required
10–20%
Typical Down Payment
1099 Forms
Income Verified By
30–45 Days
Est. Close Time
1099 Loans in Oakland
Lenders qualify you using your 1099 forms — not your tax returns. That means your deductions don't shrink your qualifying income.
Most programs want 2 years of 1099 history in the same field. Credit score minimums typically start around 620, but stronger scores get better pricing.
Retail banks rarely touch 1099 loans. This is a non-QM product — meaning it lives in the wholesale and private lending space.
We work with 200+ wholesale lenders, so we can shop this loan type across programs that most borrowers never even know exist.
The biggest mistake 1099 borrowers make: applying at their personal bank first. Banks say no and borrowers think they can't qualify. That's wrong.
We've closed deals for Oakland consultants, designers, and tech contractors who got turned down elsewhere. The right lender makes all the difference.
Bank Statement Loans are a close alternative. Those use 12-24 months of deposits to calculate income instead of 1099s.
If you mix W-2 and 1099 income, a conventional loan might still work. We run both scenarios before recommending a program.
Oakland's home prices demand serious buying power. A 1099 loan that accurately reflects your gross income can make a real difference in what you qualify for.
Alameda County's competitive market moves fast. Getting pre-approved as a 1099 borrower takes more prep — start the process early.
Some lenders accept 1 year, but most want 2. Fewer options and higher rates come with the shorter history.
No. That's the point of this loan. Lenders use your 1099 income directly, not your taxable net income.
Expect 10-20% down minimum. Non-QM programs in higher-cost markets like Oakland often lean toward 20%.
Yes, typically. Non-QM carries a rate premium. Rates vary by borrower profile and market conditions.
Yes, some lenders allow 2-4 unit purchases. Rental income from the property may also help your qualification.
Plan for 30-45 days. Non-QM underwriting is more involved than conventional, so don't wait to start.