Question 1

What documents do I need for a 1099 loan in Calipatria?

Accepted Answer

Most lenders want 1-2 years of 1099 forms and bank statements. A CPA letter confirming self-employment strengthens your file.

Question 2

Can I qualify with just one year of 1099 income?

Accepted Answer

Some lenders allow it. Two years is stronger, but one year may work if your credit and reserves are solid.

Question 3

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Yes, non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 4

Do I need to be incorporated to qualify?

Accepted Answer

No. Sole proprietors qualify. Lenders want proof of self-employment, not a specific business structure.

Question 5

How does writing off expenses affect my 1099 loan?

Accepted Answer

Heavy write-offs lower your reported income. Some lenders use gross 1099 income instead — ask us which programs apply.

Question 6

Is a 1099 loan the same as a bank statement loan?

Accepted Answer

No. A 1099 loan uses your 1099 forms to qualify. A bank statement loan uses deposit history. Both are non-QM options.

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