Question 1

Do I need two full years of 1099 income?

Accepted Answer

Most lenders want two years. Some accept one year with strong income and good credit.

Question 2

Can I use 1099s from multiple clients?

Accepted Answer

Yes. Lenders average income across all 1099 sources. Consistency matters more than the number of clients.

Question 3

Will my tax write-offs hurt my approval?

Accepted Answer

They can. High deductions lower your taxable income. Some lenders use gross 1099 income instead to offset this.

Question 4

What credit score do I need for a 1099 loan in Merced?

Accepted Answer

Most programs start at 620. Better scores above 700 get you lower rates and better terms.

Question 5

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

Accepted Answer

No. You still document income — just with 1099s instead of tax returns or W-2s.

Question 6

How much can I borrow with a 1099 loan in Merced County?

Accepted Answer

Loan amounts depend on your income and debt load. Non-QM lenders often go up to $3M or more.

1099 Loans in Merced for Independent Contractors