Question 1

Can I use just one year of 1099s to qualify?

Accepted Answer

Some lenders allow it with strong credit and reserves. Two years is cleaner and gets you better pricing.

Question 2

Does writing off expenses hurt my 1099 loan?

Accepted Answer

Not directly — lenders use your gross 1099 income here. That's the core advantage over a traditional tax return loan.

Question 3

What down payment do I need in Alturas?

Accepted Answer

Plan for 10-20% down on a 1099 loan. More down means more lender options and better rates. Rates vary by borrower profile and market conditions.

Question 4

Are 1099 loans available for rural properties?

Accepted Answer

Yes, but not every non-QM lender covers rural Modoc County. We know which wholesale lenders will.

Question 5

How is a 1099 loan different from a bank statement loan?

Accepted Answer

A 1099 loan uses your contractor income forms. A bank statement loan uses deposit history. Your income structure decides which fits best.

1099 Loans in Alturas, CA — Built for Self-Employed Borrowers