Question 1

Can I use just one year of 1099s to qualify?

Accepted Answer

Some lenders accept 12 months of 1099 income. You'll typically need a strong credit profile and a clean work history to qualify with just one year.

Question 2

Do write-offs reduce my qualifying income on this loan?

Accepted Answer

No — that's the key advantage. Most 1099 loan programs use your gross 1099 income, not your net income after Schedule C deductions.

Question 3

What credit score do I need for a 1099 loan in Roseville?

Accepted Answer

Most lenders start at 640. Better rates and terms open up at 700 and above. Rates vary by borrower profile and market conditions.

Question 4

Can I buy a primary home or just investment property?

Accepted Answer

1099 loans work for primary residences, second homes, and investment properties. Program availability depends on the lender.

Question 5

How is a 1099 loan different from a bank statement loan?

Accepted Answer

A 1099 loan uses your IRS income forms. A bank statement loan uses 12–24 months of deposits. Your income documentation style determines which fits better.

1099 Loans in Roseville for Independent Contractors