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Huntington Beach has a strong base of self-employed workers, contractors, and freelancers. Traditional W-2 loans shut them out — 1099 loans don't.
This is a non-QM loan. That means it falls outside standard Fannie Mae guidelines. Lenders use your 1099s to verify income instead of tax returns.
620–660 typical
Min Credit Score
1-2 years of 1099s
Income Docs
10–20% typical
Down Payment
Non-QM
Loan Type
2 years preferred
Self-Employment
Most lenders want 1-2 years of 1099s. Some accept just 12 months if your income is consistent and well-documented.
Credit requirements vary by lender. Expect a minimum around 620-660. Stronger credit means better pricing.
Most big banks don't offer 1099 loans. This product lives in the wholesale and non-QM lending space.
At SRK CAPITAL, we work with 200+ wholesale lenders. That gives us real options for 1099 borrowers that retail banks can't match.
The biggest mistake 1099 borrowers make is assuming they can't qualify. They often can — just not through a traditional lender.
Your gross 1099 income is what lenders use here. Deductions that shrink your tax bill won't kill your qualifying income on this program.
Bank Statement Loans look at 12-24 months of deposits. 1099 loans look at your actual 1099 forms. Pick the method that shows more income.
Profit & Loss loans work well if you have an accountant. Asset Depletion loans fit borrowers with large savings but low documented income.
Huntington Beach draws a lot of surf industry workers, consultants, and gig-economy earners. Many are 1099 by default.
Orange County home prices are high. A 1099 loan that correctly reads your income could mean the difference between qualifying and walking away.
Some lenders accept 12 months. Most want two years. Consistency matters more than the number of years.
No. Lenders use gross 1099 income, not your taxable income after deductions. This is a key advantage over conventional loans.
Plan for a minimum around 620-660. Higher scores get better rates. Rates vary by borrower profile and market conditions.
Most 1099 programs start at 10-20% down. Exact amounts depend on the lender and your credit profile.
No. Both are non-QM, but they verify income differently. A 1099 loan uses your forms directly. Bank statement loans use deposit history.
They typically want a business license, client letters, or a CPA letter. Proof of active work is required at closing.
1099 Loans in Huntington Beach