Question 1

Do I need two years of 1099s to qualify?

Accepted Answer

Most lenders want two years. Some accept one year if income is strong and consistent. We'll match you with lenders that fit your timeline.

Question 2

Can I use 1099 income from multiple clients?

Accepted Answer

Yes. Lenders add up all 1099 sources. Just document each one clearly.

Question 3

How is the rate different from a conventional loan?

Accepted Answer

1099 loans are non-QM, so rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 4

What if I also have some W-2 income?

Accepted Answer

Mixed income is fine. Lenders can blend W-2 and 1099 earnings. More income documentation usually helps your case.

Question 5

Is a 1099 loan the same as a stated income loan?

Accepted Answer

No. You still document income — just with 1099s instead of tax returns. It's not a no-doc loan.

Question 6

Can I buy in Clearlake with less than 20% down?

Accepted Answer

Some 1099 lenders allow 10% down. A stronger credit score and income history improve your options.

1099 Loans in Clearlake, CA — Built for Independent Earners