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Lemoore sits in Kings County's agricultural and military economy. Contractors, freelancers, and self-employed tradespeople are common here.
A 1099 loan uses your 1099 income — not tax returns — to qualify. That changes everything for self-employed borrowers who write off a lot.
~620
Min Credit Score
1-2 Years of 1099s
Income Doc
10-20%
Down Payment
2 Years Preferred
Self-Employment History
1099 Loans in Lemoore
Most lenders want 1-2 years of 1099 forms. Some accept a single year if your income is strong and consistent.
Credit requirements vary by lender. Expect a minimum around 620, though stronger credit gets better pricing. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Lemoore.
Lemoore sits in Kings County's agricultural and military economy. Contractors, freelancers, and self-employed tradespeople are common here.
A 1099 loan uses your 1099 income — not tax returns — to qualify. That changes everything for self-employed borrowers who write off a lot.
Most lenders want 1-2 years of 1099 forms. Some accept a single year if your income is strong and consistent.
Big banks rarely offer 1099 loans. This product lives in the wholesale and non-QM lending space.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in 1099 and self-employed borrowers specifically.
The biggest mistake self-employed borrowers make: waiting until tax season. Get your 1099s organized now, not after you're under contract.
Some lenders average your last two years of 1099 income. Others use just the most recent year. That choice alone can change your qualifying amount significantly.
Bank statement loans use 12-24 months of deposits to qualify. 1099 loans use your actual contractor income documents. Both are non-QM — the right fit depends on how you get paid.
Profit & Loss loans suit business owners with complex books. 1099 loans are cleaner for pure contractors with straightforward freelance income.
Kings County has a strong agricultural sector. Farm contractors, equipment operators, and ag consultants often earn 1099 income and struggle with conventional loans.
NAS Lemoore supports a contractor workforce too. Defense and government contractors in the area frequently need non-QM solutions to qualify.
Some lenders accept a single year if income is strong. Two years is the standard requirement across most programs.
No. Lenders use your gross 1099 income, not your taxable income. That's the main reason this loan exists.
Most 1099 lenders start around 620. Higher scores improve your rate and program options. Rates vary by borrower profile and market conditions.
A 1099 loan qualifies you on contractor income documents. A bank statement loan qualifies you on deposit history instead.
Most programs require 10-20% down. Lower down payments are possible with stronger credit and reserves.
Yes. Farm contractors and ag workers with 1099 income are a strong fit for this program.