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Sacramento's gig economy is real. Contractors, consultants, and freelancers make up a growing share of the workforce here.
Standard loans use W-2 income. If you file 1099s, most conventional programs will turn you away — even if you earn well.
620+
Min Credit Score
10-20%
Min Down Payment
1-2 Years
1099 History Needed
Non-QM
Loan Type
Gross 1099 Income
Income Calculation
Lenders use your 1099 forms — typically 1 to 2 years — to calculate qualifying income. Tax write-offs won't kill the deal here.
Most programs want a 620+ credit score and 10-20% down. Self-employed borrowers with strong income history get the best terms.
Retail banks rarely offer 1099 loans. These programs live in the wholesale and non-QM lender space — not your local bank branch.
We work with 200+ wholesale lenders. That means real options for Sacramento contractors, not a one-size-fits-all denial.
The biggest mistake I see: contractors try a big bank first. They get denied, then assume they can't buy. That's wrong.
Your 1099 income needs to show consistency. Two strong years beats one great year every time with these lenders.
Bank statement loans are the closest alternative. They use 12-24 months of deposits instead of 1099 forms to calculate income.
If your write-offs are heavy, bank statements may actually show more income. The right choice depends on your tax picture.
Sacramento has a strong base of state contractors, tech consultants, and healthcare freelancers — all prime 1099 loan candidates.
Home prices in Sacramento County make 1099 loans practical for mid-range purchases. You don't need jumbo loan territory to make this work.
Most lenders want two years. Some accept one year with strong income and a solid work history in the same field.
No — that's the point of a 1099 loan. Lenders use gross 1099 income, not your taxable income after deductions.
Most programs start at 620. Higher scores get better rates and lower down payment requirements. Rates vary by borrower profile and market conditions.
Yes. Sacramento County properties qualify. Loan limits depend on purchase price, LTV, and the specific non-QM program.
A 1099 loan uses your income forms directly. A bank statement loan uses deposit history. Your tax strategy determines which works better.
Yes, typically. Non-QM pricing reflects the added flexibility. Rates vary by borrower profile and market conditions.
1099 Loans in Sacramento