Question 1

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

Accepted Answer

Some lenders accept 12 months of 1099 income. You'll need a strong credit profile and consistent earnings to make that work.

Question 2

What if I have both W-2 and 1099 income?

Accepted Answer

Mixed income is fine. Lenders can blend both income types. More documentation is needed, but it often improves your qualifying number.

Question 3

Do 1099 loans cost more than conventional loans?

Accepted Answer

Yes, rates run higher than conventional. Non-QM lenders take on more risk. Rates vary by borrower profile and market conditions.

Question 4

How much do I need for a down payment in Susanville?

Accepted Answer

Most 1099 loans require 10-20% down. Your credit score and income documentation level affect where you land in that range.

Question 5

Can I buy rural or acreage property with a 1099 loan?

Accepted Answer

Yes, but not every lender will approve it. Property type matters — we match Lassen County buyers to lenders who handle rural deals.

Question 6

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

Accepted Answer

No. You still provide income documentation — your 1099 forms. Stated income loans require no verification. These are not the same product.

1099 Loans in Susanville for Independent Contractors