Question 1

Can I qualify with just one year of 1099s?

Accepted Answer

Some lenders accept one year. Most want two. A stronger credit profile and larger down payment improve your odds with one year.

Question 2

Do my tax write-offs hurt my 1099 loan?

Accepted Answer

They can. Heavy deductions lower taxable income. A Bank Statement Loan might work better if write-offs are large.

Question 3

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

Accepted Answer

Most non-QM lenders want 620 or higher. Better scores mean better rates. Rates vary by borrower profile and market conditions.

Question 4

Is a 1099 loan more expensive than a conventional loan?

Accepted Answer

Yes. Non-QM loans carry higher rates than conventional. The trade-off is qualifying without W-2 income.

Question 5

Can I buy rural property in Amador County with a 1099 loan?

Accepted Answer

Yes, though property type matters. Non-QM lenders have their own property guidelines — we'll check upfront.

1099 Loans for Self-Employed Buyers in Plymouth, CA