Question 1

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

Accepted Answer

Some lenders allow it, but two years is standard. One year works only with strong credit and a larger down payment.

Question 2

Does my 1099 income need to be from one client?

Accepted Answer

No. Multiple clients are fine. Lenders want to see consistent total income, not income from a single source.

Question 3

How do lenders calculate my income from 1099s?

Accepted Answer

They typically average your gross 1099 income over 24 months. High write-offs on taxes don't reduce this number.

Question 4

Is a 1099 loan available for investment properties in Clovis?

Accepted Answer

Yes. Many wholesale lenders extend 1099 programs to non-owner-occupied properties. Rates and down payment requirements differ.

Question 5

What down payment do I need for a 1099 loan?

Accepted Answer

Most programs start at 10-20% down. Stronger credit and more reserves can lower that requirement with some lenders.

Question 6

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM pricing reflects added lender risk. Rates vary by borrower profile and market conditions.

1099 Loans in Clovis, CA — Built for Independent Earners