Question 1

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

Accepted Answer

Some lenders accept 12 months. Most prefer two. A strong income history and good credit improve your odds with one-year programs.

Question 2

Do my tax write-offs hurt my 1099 loan application?

Accepted Answer

Yes. Lenders use your gross 1099 income, but heavy write-offs can still raise flags. Keep documentation clean.

Question 3

What down payment do I need for a 1099 loan in Covina?

Accepted Answer

Expect 10-20% down for most non-QM programs. Exact requirements depend on your credit score and loan amount.

Question 4

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

Accepted Answer

No. You still document income — just with 1099s instead of W-2s. These are income-verified non-QM loans.

Question 5

How does SRK CAPITAL find the right 1099 lender for me?

Accepted Answer

We match your income type, credit profile, and loan size against 200+ wholesale lenders. Then we pick the best fit.

Question 6

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Typically yes. Non-QM pricing reflects added lender risk. Rates vary by borrower profile and market conditions.

1099 Loans in Covina, CA — Built for Independent Earners