Question 1

How many years of 1099s do I need in Union City?

Accepted Answer

Most lenders want 2 years. Some accept 12 months with strong, consistent income and a clean credit profile.

Question 2

Can I use 1099 income if I also have W-2 income?

Accepted Answer

Yes. Lenders can blend both income types. The 1099 portion is verified separately using your 1099 forms.

Question 3

Will writing off expenses hurt my 1099 loan approval?

Accepted Answer

It can. Heavy deductions lower taxable income. This program uses gross 1099 income, but lenders still review your full tax picture.

Question 4

What credit score do I need for a 1099 loan?

Accepted Answer

Most lenders floor at 620. A score above 700 opens up better rates and lower reserve requirements. Rates vary by borrower profile and market conditions.

Question 5

Is a 1099 loan more expensive than a conventional loan?

Accepted Answer

Typically yes — non-QM pricing runs higher than conventional. The tradeoff is qualifying with income a conventional lender won't accept.

Question 6

How long does a 1099 loan take to close in Alameda County?

Accepted Answer

Most close in 21-30 days. Having your 1099s, bank statements, and ID ready up front keeps the timeline tight.

1099 Loans in Union City, CA — Built for Independent Earners