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Adelanto has a growing base of self-employed trades workers, truckers, and contractors. Many earn solid income but can't qualify with a W-2.
1099 loans are built for exactly that borrower. No tax returns required — lenders use your 1099s to verify income instead.
620+
Min Credit Score
1-2 Yrs 1099s
Income Docs
10-20%
Down Payment
1-2 Years
Self-Employed History
Most lenders want 1-2 years of 1099s showing consistent earnings. You'll also need a credit score of 620 or higher for most programs.
Down payment requirements typically start at 10-20%. Stronger credit and larger reserves can unlock better terms. Rates vary by borrower profile and market conditions.
Big banks rarely offer 1099 loans. These are non-QM products — meaning they live in the wholesale and private lending space.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in non-QM products built for 1099 earners in the Inland Empire.
The biggest mistake I see: borrowers write off too much on taxes, then wonder why lenders say their income is too low.
With a 1099 loan, lenders use gross 1099 income — not your net after deductions. That's a major difference for self-employed borrowers.
Bank Statement Loans use 12-24 months of deposits to calculate income. Good if your 1099s don't reflect full earnings.
Profit & Loss Statement Loans work well for contractors with a CPA. Your accountant prepares a P&L — lenders use that to qualify you instead.
Adelanto sits in the High Desert, where construction, logistics, and independent trades work is common. Many of those workers are 1099.
San Bernardino County has no shortage of buyers who need non-QM options. 1099 loans fill a real gap here that conventional programs don't cover.
Most lenders require 1-2 years of 1099 forms. Some also ask for recent bank statements to confirm deposits match your stated income.
Yes. Multiple 1099 sources are fine. Lenders add them together to calculate total qualifying income.
Not with this product. Lenders use gross 1099 income, not your adjusted gross income after deductions.
A 1099 loan qualifies you using your 1099 forms directly. A bank statement loan uses deposit history instead — useful if income varies.
Most programs require a 620 minimum. Higher scores improve your rate and reduce required reserves.
Typically yes — non-QM rates run higher than conventional. The trade-off is access to financing that standard programs won't offer. Rates vary by borrower profile and market conditions.
1099 Loans in Adelanto