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Graeagle attracts self-employed buyers — contractors, consultants, remote freelancers. Standard W-2 underwriting blocks most of them.
A 1099 loan uses your actual 1099 income to qualify. No tax return write-offs working against you.
620+
Min Credit Score
12–24 Mo 1099s
Income Docs
10–20%
Min Down Payment
2 Years Preferred
Self-Employed History
1099 Loans in Graeagle
Most lenders want 12–24 months of 1099 forms. Some accept one year if your income is consistent and your credit is strong.
Expect a minimum 620–660 credit score. Down payment requirements typically start at 10–20 percent depending on the lender.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Graeagle.
Graeagle attracts self-employed buyers — contractors, consultants, remote freelancers. Standard W-2 underwriting blocks most of them.
A 1099 loan uses your actual 1099 income to qualify. No tax return write-offs working against you.
Most lenders want 12–24 months of 1099 forms. Some accept one year if your income is consistent and your credit is strong.
HousingWire flagged Pennymac TPO rolling out a non-QM suite that includes 1099 loans. More wholesale options mean more competition on rate and guidelines.
Retail banks rarely touch 1099 loans. Wholesale lenders built for non-QM are where the real product options live.
The biggest mistake I see: 1099 borrowers write off everything, then wonder why lenders won't count their income. Your stated income needs to match your 1099s.
We layer your 1099s against bank deposits to build the strongest income picture. That documentation strategy determines your rate tier.
Bank statement loans average 12–24 months of deposits. 1099 loans skip that step and go straight to your contractor income forms.
If you run a business with heavy expenses, a P&L loan may qualify you on more income. Pure 1099 contractors usually do better with the 1099 program.
Graeagle sits in Plumas County — a rural mountain community. Many buyers here are second-home purchasers or remote workers with non-traditional income.
Rural property types can complicate appraisals. Pair that with a non-QM loan and lender selection becomes even more critical.
Some lenders allow it with strong credit and reserves. Two years is standard and produces better pricing.
Yes, but second-home pricing adds to your rate. Expect stricter reserve requirements compared to a primary residence.
Most non-QM lenders floor at 620. Scores above 700 open better rate tiers and lower down payment options.
Lenders average your 1099 earnings over 12–24 months. Bank deposits may supplement the income picture.
Yes. Non-QM pricing carries a premium over conventional. Rates vary by borrower profile and market conditions.