Question 1

Can I use one year of 1099s to qualify?

Accepted Answer

Some lenders accept 12 months if income is stable and credit is strong. Two years is the safer route and opens more programs.

Question 2

Do I need a CPA to get a 1099 loan?

Accepted Answer

Not always. Some programs just need your 1099 forms. A CPA helps if you're using a P&L loan instead.

Question 3

What credit score do I need?

Accepted Answer

Most 1099 loan programs start around 620-640. Higher scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

Can I buy in Amador City with a 1099 loan?

Accepted Answer

Yes. This is a non-QM product with no geographic restrictions in California. Rural and small-city properties are eligible.

Question 5

How does a 1099 loan differ from a bank statement loan?

Accepted Answer

A 1099 loan uses your contractor income forms. A bank statement loan uses actual deposits. If your write-offs are high, bank statements may show more income.

1099 Loans in Amador City, CA