Question 1

Can I qualify with only one year of 1099 income?

Accepted Answer

Some lenders accept 12 months of 1099s. Two years is stronger. Consistency matters more than longevity.

Question 2

Do I need to file tax returns for a 1099 loan?

Accepted Answer

Not always. Some non-QM programs skip tax returns entirely. Your 1099s and a CPA letter can be enough.

Question 3

What credit score do I need in King City?

Accepted Answer

Most 1099 loan programs start at 620. Higher scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

How is 1099 income calculated for qualification?

Accepted Answer

Lenders average your gross 1099 income over 1-2 years. They don't subtract your business deductions like a tax return would.

Question 5

What if my income varies year to year?

Accepted Answer

Variable income is common with 1099 work. Lenders average it. A strong recent year can sometimes outweigh a weaker prior year.

Question 6

Is a 1099 loan more expensive than a conventional loan?

Accepted Answer

Non-QM rates run higher than conventional. The trade-off is access — you get financing that fits how you actually earn.

1099 Loans in King City, CA — Built for Independent Earners