Question 1

Can I use 1099 income from multiple clients?

Accepted Answer

Yes, lenders combine income from multiple sources if you've worked in the same field for two years. They want consistent industry focus, not random gig work.

Question 2

Do I need tax returns or just 1099 forms?

Accepted Answer

You need both. Lenders verify your 1099 forms match the income reported on your tax returns. Mismatches kill the application immediately.

Question 3

What if I started freelancing recently?

Accepted Answer

Most lenders require 24 months of self-employment history. One year rarely works unless you transitioned from W-2 work in the identical role.

Question 4

How do lenders calculate my qualifying income?

Accepted Answer

They take your adjusted gross income from tax returns, not your 1099 totals. Business deductions reduce what you can borrow.

Question 5

Can I buy a multi-unit property with a 1099 loan?

Accepted Answer

Yes, but most non-QM lenders require larger down payments on 2-4 unit properties. Expect 20-25% down instead of 10-15%.

1099 Loans in Martinez: Financing That Actually Fits How You Earn