Question 1

Do I need two years of 1099 income to qualify in Montclair?

Accepted Answer

Most lenders want two years. Some accept one year with strong compensating factors like high reserves or a low debt-to-income ratio.

Question 2

Can I use 1099 income from multiple clients?

Accepted Answer

Yes. Lenders total your 1099s across all clients. Consistency across both years matters more than the number of clients.

Question 3

Will my tax deductions hurt my 1099 loan approval?

Accepted Answer

They can. Some lenders use gross 1099 income, but underwriters still review your returns. Large deductions reduce qualifying income.

Question 4

What credit score do I need for a 1099 loan?

Accepted Answer

Most lenders start at 620. Better scores get lower rates — and on non-QM loans, the rate difference between 660 and 740 is significant.

Question 5

Is a 1099 loan more expensive than a conventional loan?

Accepted Answer

Yes. Expect a rate premium for non-QM products. Rates vary by borrower profile and market conditions.

Question 6

Can truck drivers and logistics contractors in San Bernardino County use this loan?

Accepted Answer

Yes — it's one of the most common profiles we see. You need 1099s showing consistent income and at least a 620 credit score.

1099 Loans in Montclair, CA — Built for Self-Employed Borrowers