Question 1

Can I use one year of 1099s to qualify in Novato?

Accepted Answer

Some lenders accept 12 months if your income is strong. Rising income trends make a one-year average more favorable.

Question 2

Do 1099 loans work for jumbo amounts in Marin County?

Accepted Answer

Yes. Non-QM lenders regularly approve large loan amounts. Marin County prices are well within reach of 1099 programs.

Question 3

How is my income calculated on a 1099 loan?

Accepted Answer

Lenders use your gross 1099 earnings — not your taxable income after deductions. This is the key advantage over conventional loans.

Question 4

What down payment do I need for a 1099 loan?

Accepted Answer

Most programs start at 10-20% down. Higher down payments can offset weaker credit or shorter income history.

Question 5

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Non-QM rates typically run higher than conventional. The exact difference depends on your credit, down payment, and loan size. Rates vary by borrower profile and market conditions.

Question 6

Do I need to be incorporated to get a 1099 loan in Novato?

Accepted Answer

No. Sole proprietors qualify. You just need documented 1099 income and a two-year self-employment history in most cases.

1099 Loans in Novato: Financing Built for Self-Employed Borrowers