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Maricopa sits in southern Kern County, a region with deep roots in oil, agriculture, and independent contracting work. Plenty of earners here get 1099s — not W-2s.
Standard loans reject 1099 borrowers because lenders average two years of tax returns. That often kills deals for contractors who write off legitimate expenses.
620+
Min Credit Score
12–24 Mo. 1099s
Income Docs
10–20%
Down Payment
Non-QM
Loan Type
1099 Loans in Maricopa
Most 1099 loan programs require 12–24 months of 1099 forms. Some lenders use the gross amount. Others average it. The difference matters a lot for your qualifying income.
Credit requirements are typically 620 or higher. You'll need 10–20% down depending on the lender and your income history. Rates vary by borrower profile and market conditions.
Banks rarely offer 1099 loans. This is non-QM territory — meaning wholesale lenders and specialty investors hold these programs.
We work with 200+ wholesale lenders, and a meaningful chunk of them have 1099 products. The guidelines vary widely. One lender may require 24 months of 1099s. Another accepts 12.
The biggest mistake I see: borrowers try to apply at a retail bank, get denied, and assume they can't qualify. That's wrong. They just applied at the wrong place.
Bring your last two years of 1099s and a year-to-date income statement. If your income is consistent or growing, that's a strong file. Declining income is a harder sell.
Bank Statement Loans use 12–24 months of deposits instead of 1099s. If your deposits run higher than your stated 1099 income, that program might qualify you for more.
Profit & Loss loans work well for contractors who run through an LLC. Asset Depletion is another option if you have reserves but irregular income. All three are worth comparing.
Kern County has a large concentration of oil field contractors and agricultural workers — many earning 1099 income seasonally or project-by-project. This loan was made for that profile.
Maricopa home prices are accessible compared to coastal California. That means smaller loan amounts and more manageable debt-to-income ratios, which helps 1099 approval odds.
Some lenders accept 12 months. Most prefer 24. A stronger credit profile and larger down payment improve your odds with 12-month programs.
Most 1099 loan programs use gross income from your 1099 forms — not your adjusted gross income after deductions. That's a major advantage over conventional loans.
Most programs start at 620. Better rates and terms kick in around 680 and above. Rates vary by borrower profile and market conditions.
Yes, but lenders want to see income continuity. Two years of 1099s from the same field helps, even if individual clients change.
Typically yes — non-QM rates run higher than conventional. The tradeoff is qualifying when no conventional program will approve you.
A 1099 loan uses your income forms directly. A bank statement loan uses deposit history. Both are non-QM — your situation determines which qualifies you for more.