Question 1

Do I need two years of 1099 income to qualify?

Accepted Answer

Most lenders want 2 years, but some accept 1 year with strong compensating factors. Consistency matters more than length alone.

Question 2

Can I use 1099s from multiple clients?

Accepted Answer

Yes. Lenders add up all 1099 income from any source. Just document each one clearly.

Question 3

How is my income calculated on a 1099 loan?

Accepted Answer

Lenders average your 1099 earnings over 1–2 years. They use gross income, not your taxable income after deductions.

Question 4

Are rates higher on 1099 loans than conventional?

Accepted Answer

Yes, typically. Non-QM loans carry more risk for lenders, so rates run higher. Rates vary by borrower profile and market conditions.

Question 5

Can I buy in San Juan Bautista with a 1099 loan?

Accepted Answer

Yes. There are no geographic restrictions. The property just needs to meet standard appraisal and title requirements.

Question 6

What if my income dropped one year?

Accepted Answer

A single down year isn't automatic disqualification. Lenders look at trends — explain it with documentation if needed.

1099 Loans in San Juan Bautista for Self-Employed Borrowers