Question 1

Can I use 1099s from multiple clients?

Accepted Answer

Yes. Lenders add up all 1099 income from the same year. Consistency across 1-2 years matters more than the number of clients.

Question 2

Do I need to file taxes to qualify?

Accepted Answer

Not always. Some 1099 loan programs skip tax returns entirely. Your 1099 forms and sometimes bank statements are enough.

Question 3

What credit score do I need in Calexico?

Accepted Answer

Most non-QM lenders start at 620. A higher score gets you a better rate — scores above 700 open up more programs.

Question 4

Are 1099 loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM programs carry more lender risk. Rates vary by borrower profile and market conditions.

Question 5

Can I count income earned in Mexico?

Accepted Answer

No. Lenders require US-sourced, documentable income. Cross-border earnings paid in pesos or foreign accounts don't count.

Question 6

How long does a 1099 loan take to close?

Accepted Answer

Most non-QM loans close in 21-30 days. Having 1-2 years of clean 1099s ready speeds up the process significantly.

1099 Loans in Calexico, CA — Built for Self-Employed Borrowers