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Apple Valley attracts a lot of self-employed buyers — contractors, consultants, gig workers. Standard W-2 loans shut most of them out.
1099 loans use your actual 1099 income to qualify. No tax returns required. No write-off penalties.
620 typical
Min Credit Score
12-24 months 1099s
Income Docs
10-20% typical
Down Payment
+0.5 to 1 pt typical
Rate vs. Conventional
2+ years preferred
Self-Employed History
Most lenders want 1-2 years of 1099s. Some accept just 12 months if your income is consistent.
Credit minimums typically start at 620. Stronger scores get better pricing. Rates vary by borrower profile and market conditions.
Big banks rarely touch 1099 loans. This is non-QM territory — meaning specialty wholesale lenders handle it.
We work with 200+ wholesale lenders at SRK CAPITAL. Several specialize in exactly this loan type.
Bankrate's latest survey shows 30-year rates at 6.27%. 1099 loan rates run higher — typically 0.5 to 1 point above conventional. Plan accordingly.
The biggest mistake I see: buyers submit tax returns showing heavy write-offs, then wonder why they can't qualify. Don't mix programs. Use your 1099s.
Bank Statement Loans use 12-24 months of deposits to qualify. 1099 loans use gross earnings directly. Both are non-QM, but they fit different situations.
If you have a mix of 1099 and business income, a Profit & Loss loan might work better. We run both scenarios and show you the numbers.
Apple Valley sits in San Bernardino County's High Desert. Home prices are more affordable than coastal California — good news for 1099 borrowers watching loan size.
The local economy has a strong trade and contractor workforce. 1099 income is common here. These loans exist for exactly this buyer profile.
Most lenders require 12-24 months of 1099s. Some accept 12 months with strong, consistent income history.
Yes. 1099 loans use gross earnings, not net after deductions. That's the core advantage over a conventional loan.
Typically yes. Rates run higher than conventional pricing. Rates vary by borrower profile and market conditions.
Most lenders start at 620. Scores above 700 get meaningfully better rates on non-QM products like this one.
Yes. 1099 loans work for primary residences, second homes, and investment properties. Lender terms vary by property type.
Yes. We have access to 200+ wholesale lenders and shop multiple non-QM options for Apple Valley 1099 borrowers.
1099 Loans in Apple Valley