Loading
Arcadia attracts a lot of self-employed buyers — consultants, contractors, real estate investors. Traditional lenders reject them constantly.
A 1099 loan uses your contractor income directly. No W-2 required. No tax return averaging that kills your buying power.
620–660 typical
Min Credit Score
1-2 yrs of 1099s
Income Docs
10–20% typical
Down Payment
2 yrs preferred
Self-Employment
Non-QM
Loan Type
1099 Loans in Arcadia
Lenders typically want 1-2 years of 1099 forms. They use gross income, not what's left after deductions.
Credit score requirements usually start around 620-660. Down payment minimums typically run 10-20%, depending on the lender.
Most banks don't offer 1099 loans. This is non-QM territory — meaning wholesale lenders, not your local bank branch.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize specifically in 1099 and self-employed programs.
The biggest mistake I see: self-employed buyers apply at a big bank first, get denied, then think they can't qualify anywhere.
Your 1099s tell a better income story than your tax returns. We use the right documentation to show lenders what you actually earn.
Bank Statement Loans are the closest alternative. They work better if your income flows through a business account, not personal 1099s.
Profit & Loss loans are another option. An accountant prepares a P&L statement — some lenders accept that alone. Fewer do, though.
Arcadia home prices run high. You'll likely need a loan amount that pushes into jumbo territory. Some 1099 lenders cap out early.
Los Angeles County has a dense pool of independent contractors. Lenders in our network see this borrower profile often — approvals move faster.
Some lenders accept 12 months of 1099s. Others require two years. It depends on the lender program and your income history.
No. Lenders use your gross 1099 income, not your adjusted taxable income. Write-offs don't reduce your qualifying income here.
Yes, typically. Non-QM products carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.
Most lenders require 10-20% down. Stronger credit and income documentation can sometimes get you to the lower end.
Most lenders want at least two years of self-employment history. Some allow one year with strong compensating factors.
Yes. Several lenders in our network offer non-QM jumbo programs for 1099 earners. Loan limits and guidelines vary by lender.