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Orange County has one of the highest concentrations of self-employed workers in California. Contractors, consultants, and freelancers are everywhere here — and most banks won't touch their income.
1099 loans are built for exactly this gap. You earn real money. You just don't have W-2s to show a traditional underwriter.
620 (typical)
Min Credit Score
1–2 Years of 1099s
Income History Needed
No (most programs)
Tax Returns Required
10% (typical)
Min Down Payment
Non-QM
Loan Type
Lenders typically want 1-2 years of 1099 income. They average it out to determine your qualifying income — not your taxed income.
Credit score requirements vary by lender. Most programs start at 620, but stronger scores open better rates. Rates vary by borrower profile and market conditions.
Big retail banks rarely offer 1099 loan programs. This is a wholesale and non-QM product — you find it through brokers, not branch windows.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in non-QM products like this. That gives you real options, not a one-size answer.
The most common mistake: contractors try a bank first, get denied, then think they can't buy. That's wrong. You just need the right loan type.
Your 1099s need to show consistent income. One strong year and one weak year will average down your qualifying number. Two solid years is the cleanest path to approval.
Bank Statement Loans let lenders use your deposits instead of 1099s. If your income runs through a business account, that may be a stronger option.
Profit & Loss Statement Loans work well for contractors with high gross income but heavy write-offs. Each program fits a different income picture — the right one depends on your paper trail.
Orange is a mid-sized city in the heart of Orange County. Home prices here are real — you need a loan program that can handle a serious purchase price.
The gig economy is strong in this region. Tech consultants, healthcare contractors, and tradespeople all hit the same wall with conventional lending. 1099 loans solve that.
Most 1099 loan programs skip tax returns entirely. Lenders use your 1099 forms directly to calculate qualifying income.
Most programs require one to two years. Two years gives you the cleanest approval path and the most lender options.
Yes. Lenders combine all 1099 sources. Consistent income across clients actually strengthens your file.
Most programs start at 10% down. Higher down payments can offset a lower credit score or shorter income history.
Rates run higher than conventional. That's the cost of flexibility. Rates vary by borrower profile and market conditions.
Yes. Many borrowers use a 1099 loan to buy, then refinance once they qualify conventionally. It's a common two-step strategy.
1099 Loans in Orange