Question 1

Can I use one year of 1099s to qualify in Markleeville?

Accepted Answer

Some lenders accept one year. Most want two for a stronger file. Fewer options exist with only one year of history.

Question 2

Do 1099 loans cost more than conventional loans?

Accepted Answer

Yes. Non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 3

What if I have both W-2 and 1099 income?

Accepted Answer

Mixed income borrowers have options. Some lenders blend both income types. Others underwrite the 1099 portion separately.

Question 4

Will the rural location affect my loan approval?

Accepted Answer

The property appraisal can be harder in Alpine County due to few comparables. Loan approval depends on the lender's property guidelines.

Question 5

How is my income calculated on a 1099 loan?

Accepted Answer

Lenders average your 1099 income over 12 to 24 months. Write-offs from your tax return are not subtracted.

1099 Loans in Markleeville for Self-Employed Borrowers