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Laguna Beach runs on independent income. Artists, consultants, designers, and real estate pros all write off aggressively — and traditional lenders penalize them for it.
A 1099 loan skips the W-2 requirement entirely. Lenders qualify you on what you actually earn, not what your tax return shows after deductions.
620+
Min Credit Score
12–24 Months
1099 History Needed
10–20%
Down Payment
Non-QM
Loan Type
1099 Loans in Laguna Beach
Most lenders want 24 months of 1099 forms. Some accept 12 months if your income is strong and consistent.
Expect a minimum credit score around 620. Larger loan amounts in Laguna Beach typically require 680 or better.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Laguna Beach.
Laguna Beach runs on independent income. Artists, consultants, designers, and real estate pros all write off aggressively — and traditional lenders penalize them for it.
A 1099 loan skips the W-2 requirement entirely. Lenders qualify you on what you actually earn, not what your tax return shows after deductions.
Most lenders want 24 months of 1099 forms. Some accept 12 months if your income is strong and consistent.
Banks don't love this loan. Most retail lenders can't do it at all. This is a non-QM product — meaning it lives in the wholesale and private lending world.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in 1099 income. We match your file to the lender whose guidelines actually fit.
The biggest mistake 1099 borrowers make: applying at a big bank first. You get denied, your credit takes a hit, and you've wasted months.
Come in with clean 1099s, a business bank account, and two years of self-employment history. That package moves fast with the right lender.
Bank Statement Loans use 12–24 months of deposits instead of 1099s. If your write-offs are heavy, bank statements may show higher qualifying income.
Profit & Loss Statement Loans work well for borrowers with a CPA who can document earnings clearly. Each path has a different lender pool and rate range.
Laguna Beach prices run high. Loan amounts here often push into jumbo territory, which adds a layer of scrutiny on non-QM files.
Lenders look harder at income stability when loan sizes are large. Two solid years of 1099 income carries serious weight in a high-cost market like this.
Most lenders require 24 months. Some accept 12 months with strong income and a clear work history in the same field.
Yes. That's the point of a 1099 loan. Lenders use your gross 1099 income, not your taxable income after deductions.
Plan for 620 minimum. For larger loan amounts common in Laguna Beach, 680 or higher puts you in a stronger position.
Typically 10–20%. Larger down payments improve your rate and make lenders more comfortable with non-QM files.
Yes. Non-QM loans carry a rate premium for the added flexibility. Rates vary by borrower profile and market conditions.
Some lenders allow it, but guidelines tighten. A DSCR or Investor Loan may be a cleaner fit depending on your situation.