Loading
Loading
Fairfax runs on freelancers, consultants, and self-employed professionals. Traditional W-2 underwriting shuts most of them out.
A 1099 loan uses your contractor income directly — no tax returns, no employer verification. It's built for how you actually earn.
620 (680+ preferred)
Min Credit Score
1-2 Years of 1099s
Income Docs Needed
10-20% typical
Down Payment
2 years preferred
Self-Employment History
Non-QM / Alternative Doc
Loan Type
1099 Loans in Fairfax
Most lenders want 1-2 years of 1099 forms showing consistent income. Self-employment history matters here.
Credit requirements vary by lender. Expect a 620 minimum at most, with better pricing above 680. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Fairfax.
Fairfax runs on freelancers, consultants, and self-employed professionals. Traditional W-2 underwriting shuts most of them out.
A 1099 loan uses your contractor income directly — no tax returns, no employer verification. It's built for how you actually earn.
Most lenders want 1-2 years of 1099 forms showing consistent income. Self-employment history matters here.
Big banks rarely touch 1099 loans. This is non-QM territory — wholesale lenders who specialize in alternative income documentation.
SRK CAPITAL works with 200+ wholesale lenders. We know which ones price 1099 income competitively for Marin County borrowers.
The biggest mistake 1099 borrowers make: assuming their gross income is what counts. Lenders average it. Two strong years beats one great year.
If your 1099s show declining income year-over-year, some lenders will only use the lower year. Come in with consistency and you'll get better terms.
Bank Statement Loans let lenders use 12-24 months of deposits instead of 1099s. Better if your write-offs push taxable income too low.
Profit & Loss Statement Loans work well if a CPA prepares your P&L. Each option has a different income calculation — the right one depends on your paper trail.
Fairfax and Marin County carry high property values. That means loan amounts are typically large — lender overlays on non-QM products matter more at higher balances.
Many Fairfax buyers are in creative, tech, or wellness industries with variable income. 1099 loans are one of the few paths to homeownership that actually fits that profile.
Some lenders accept one year, but two is the standard. One year typically means fewer lender options and higher rates.
No. Sole proprietors qualify. You just need documented 1099 income from clients or platforms.
Lenders typically average your 1099 totals over 12-24 months. Some subtract business expenses — ask which method your lender uses.
Lenders may use only the lower year's income. Declining trends can limit your options or raise your rate.
Yes, non-QM products carry a rate premium. Rates vary by borrower profile and market conditions — stronger credit narrows the gap.
Yes. Jumbo 1099 loans are available through wholesale lenders. Expect stricter reserve requirements at higher loan amounts.