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Freelancers and contractors in La Habra face a real problem. Traditional lenders see irregular income and walk away.
1099 loans use your actual 1099 forms to verify income — not tax returns that bury your earnings in deductions.
620+
Min Credit Score
1-2 Years of 1099s
Income History
Usually Not
Tax Returns Required
10-20% Typical
Down Payment
Non-QM
Loan Type
Most lenders want 1-2 years of 1099 forms. You'll also need a credit score of 620 or higher for most programs.
Self-employment history matters. Lenders want to see you've been in the same line of work for at least two years.
Big banks rarely offer 1099 loans. This is a non-QM product — meaning it lives outside standard lending guidelines.
At SRK CAPITAL, we work with 200+ wholesale lenders. That means real options, not one bank's take-it-or-leave-it offer.
The biggest mistake 1099 borrowers make: waiting until tax season to apply. Your deductions can crush your qualifying income.
We look at your gross 1099 income before deductions. That number tells the real story of what you earn.
Bank Statement Loans look at 12-24 months of deposits. 1099 loans use your forms directly. Both skip tax returns.
If your 1099s are clean and consistent, this path is faster. Bank statements work better when income flows through a business account.
La Habra sits on the LA-Orange County border. A lot of contractors here serve both markets — and their income shows it.
Home prices in this area are competitive. 1099 earners with strong gross income can be serious buyers if they're prepped correctly.
Most 1099 loan programs skip tax returns entirely. Your 1099 forms from the past 1-2 years do the work.
Most programs start at 620. Better scores get better rates — rates vary by borrower profile and market conditions.
Yes. Lenders add up all your 1099s. Consistency across clients actually strengthens your file.
Expect 10-20% down for most 1099 loan programs. Exact requirements depend on your credit and loan amount.
1099 loans use your IRS forms directly. Bank statement loans use 12-24 months of deposit history instead.
Non-QM loans typically close in 21-30 days. Having your 1099s and bank statements ready speeds things up.
1099 Loans in La Habra