Question 1

Can I use just one year of 1099s to qualify?

Accepted Answer

Some lenders accept 12 months. Most prefer 24. A stronger credit profile and larger down payment improve your odds with 12-month programs.

Question 2

Do lenders use my gross 1099 income or my taxable income?

Accepted Answer

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.

Question 3

What credit score do I need for a 1099 loan in Kern County?

Accepted Answer

Most programs start at 620. Better rates and terms kick in around 680 and above. Rates vary by borrower profile and market conditions.

Question 4

Can seasonal or project-based contractors qualify?

Accepted Answer

Yes, but lenders want to see income continuity. Two years of 1099s from the same field helps, even if individual clients change.

Question 5

Is a 1099 loan more expensive than a conventional loan?

Accepted Answer

Typically yes — non-QM rates run higher than conventional. The tradeoff is qualifying when no conventional program will approve you.

Question 6

How is a 1099 loan different from a bank statement loan?

Accepted Answer

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.

1099 Loans in Maricopa, CA — Built for Independent Earners