Question 1

Can I use just one year of 1099s?

Accepted Answer

Some lenders accept one year, but two years is standard. One-year programs usually require stronger credit and more reserves.

Question 2

Do I need to be self-employed for two years?

Accepted Answer

Most lenders want a two-year self-employment history. Gaps or recent career changes can complicate approval.

Question 3

Will my tax write-offs hurt me on a 1099 loan?

Accepted Answer

No — that's the point. Gross 1099 income is used, not your net taxable income after deductions.

Question 4

Is a 1099 loan available for Fort Bragg properties?

Accepted Answer

Yes. Non-QM lenders finance properties in rural and coastal California. Rural designation doesn't disqualify you.

Question 5

How does a 1099 loan compare to a bank statement loan?

Accepted Answer

1099 loans use your income forms directly. Bank statement loans use deposit history. Your income structure determines which fits better.

1099 Loans in Fort Bragg, CA