Question 1

Do I need two years of 1099 income to qualify?

Accepted Answer

Most lenders want two years. Some accept one year with strong income and good credit.

Question 2

Will my tax write-offs hurt my qualification?

Accepted Answer

Not here. Lenders use your gross 1099 income, not your taxable income after deductions.

Question 3

Can I use 1099s from multiple clients?

Accepted Answer

Yes. Lenders add up all 1099 forms. Multiple income sources can actually strengthen your file.

Question 4

Are 1099 Loan rates higher than conventional rates?

Accepted Answer

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

Question 5

What if I only have one year of 1099 history in Wasco?

Accepted Answer

Some lenders allow it with compensating factors like higher down payment or strong reserves.

Question 6

Can a seasonal agricultural worker use a 1099 Loan?

Accepted Answer

Possibly, if income is documented consistently across two years. Gaps or sharp drops are a harder story to tell.

1099 Loans in Wasco, CA for Independent Contractors