Question 1

Do I need two years of 1099 income to qualify?

Accepted Answer

Most lenders want two years. Some accept one year if your income is strong and consistent.

Question 2

Can I use 1099s from multiple clients?

Accepted Answer

Yes. Lenders add up 1099 income across all clients. Diversified income can actually strengthen your file.

Question 3

Will my tax write-offs hurt my application?

Accepted Answer

Not with a 1099 loan. Lenders use gross 1099 income, not your taxable income after deductions.

Question 4

What down payment do 1099 loans require in Monterey County?

Accepted Answer

Most programs start at 10% down. Stronger credit and income profiles may access lower requirements.

Question 5

How do 1099 loans compare to bank statement loans?

Accepted Answer

1099 loans use tax forms; bank statement loans use deposit history. Your income structure determines which fits better.

1099 Loans in Del Rey Oaks for Independent Contractors