Question 1

Do I need two years of 1099 income to qualify in Chester?

Accepted Answer

Most lenders want 2 years. Some accept 1 year with strong compensating factors like good credit and reserves.

Question 2

Will my tax write-offs hurt my 1099 loan approval?

Accepted Answer

Not with a 1099 loan. Lenders use your gross 1099 income, so deductions don't reduce your qualifying amount.

Question 3

Can I buy a cabin or rural property in Plumas County with a 1099 loan?

Accepted Answer

Yes, but lender overlays vary on rural and seasonal properties. We match you to lenders that clear those property types.

Question 4

How is a 1099 loan different from a Bank Statement loan?

Accepted Answer

A 1099 loan uses your contractor income forms. A Bank Statement loan uses deposit history. Both are non-QM options.

Question 5

What credit score do I need for a 1099 loan?

Accepted Answer

Most programs require a 620 minimum. Higher scores improve your rate. Rates vary by borrower profile and market conditions.

1099 Loans in Chester, CA — Built for Independent Earners