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Freelancers and independent contractors in Los Alamitos often earn strong incomes. Traditional lenders still reject them on paper.
1099 loans solve that. They qualify you on what you actually earn — not a W-2 that doesn't exist.
620+
Min Credit Score
1-2 Yrs 1099s
Income Docs
10-20%
Down Payment
1-2 Yrs Required
Self-Employment
1099 Loans in Los Alamitos
Most lenders want 1-2 years of 1099 forms. Some also accept a CPA letter confirming your self-employment.
Credit score requirements typically start around 620. Expect to put down 10-20% depending on your income profile.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Los Alamitos.
Freelancers and independent contractors in Los Alamitos often earn strong incomes. Traditional lenders still reject them on paper.
1099 loans solve that. They qualify you on what you actually earn — not a W-2 that doesn't exist.
Most lenders want 1-2 years of 1099 forms. Some also accept a CPA letter confirming your self-employment.
Big retail banks rarely offer 1099 loan programs. Wholesale lenders built for non-QM lending are where these deals get done.
We work with 200+ wholesale lenders. That means real options — not just one program and a take-it-or-leave-it rate.
The biggest mistake 1099 borrowers make is writing off too much income on taxes. It kills your qualifying income on paper.
If your Schedule C shows $40K but you earned $150K, a 1099 loan using your actual forms is a smarter path. Rates vary by borrower profile and market conditions.
Bank statement loans use 12-24 months of deposits. 1099 loans use your contractor income forms directly. Both are non-QM — the right one depends on how you get paid.
If you invoice clients and receive 1099s, this program is cleaner than pulling bank statements. Fewer documents, faster underwriting.
Los Alamitos sits in Orange County, where home prices run high. You need strong qualifying income — which is exactly what 1099 loans are built to capture.
Contractors in aerospace, tech, and consulting are common in this area. Many earn well above the county median but get stuck on traditional lending requirements.
Most programs require 1-2 years of 1099s. Some lenders will approve with one year if your income is consistent and your credit is solid.
Yes. Mixed income is fine. Lenders will look at both, and your 1099 income can be the primary qualifying source.
Less than a conventional loan. 1099 programs use your gross contract income, not your taxable income after deductions.
Most programs start at 620. Higher scores unlock better rates and lower down payment options. Rates vary by borrower profile and market conditions.
A 1099 loan uses your contractor income forms. A bank statement loan uses 12-24 months of deposits. Both skip W-2 requirements.
Yes. Non-QM lenders often allow 1099 income to qualify for investment properties. Down payment requirements are typically higher.