Question 1

Can I qualify with only one 1099 client?

Accepted Answer

Some lenders accept single-source 1099 income if you show multi-year history with that client. Others require income from at least two sources to reduce concentration risk.

Question 2

Do I need tax returns for a 1099 loan?

Accepted Answer

Yes, most lenders want one to two years of filed returns to verify the 1099 income you report. They check consistency between forms and returns.

Question 3

What if my 1099 income dropped last year?

Accepted Answer

Lenders average your income across the review period. A strong current year can offset a weaker prior year if the trend shows recovery.

Question 4

How long does 1099 loan approval take?

Accepted Answer

Non-QM underwriting runs 3-5 weeks on average. Complex income patterns or documentation gaps extend timelines. Clean files close faster.

Question 5

Can I write off business expenses and still qualify?

Accepted Answer

Yes, 1099 loans focus on gross receipts before expenses. You keep tax deductions without reducing your qualifying income as much as conventional loans.

1099 Loans in Willows: Financing for Self-Employed Borrowers