Question 1

Do I need two full years of 1099 income?

Accepted Answer

Most lenders want two years. Some programs accept one year with strong compensating factors like good credit and solid reserves.

Question 2

Can I use 1099s from multiple clients?

Accepted Answer

Yes. Lenders add up all 1099 income from different sources. Consistent two-year history across clients strengthens your file.

Question 3

What if my taxable income is low after deductions?

Accepted Answer

That's a common problem. A Bank Statement Loan may qualify you on deposits instead of what your tax return shows.

Question 4

Is a 1099 loan available for Chowchilla properties?

Accepted Answer

Yes. Non-QM lenders operate statewide. Rural Central Valley properties are eligible as long as they meet standard appraisal requirements.

Question 5

How do 1099 loan rates compare to conventional?

Accepted Answer

Non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions — your credit score and down payment move the number significantly.

1099 Loans in Chowchilla for Independent Contractors