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Needles sits at California's eastern edge, where the Colorado River meets the Mojave Desert. Self-employed workers and contractors are a real part of this economy.
HousingWire flagged that Pennymac TPO just rolled out a non-QM suite that includes 1099 loans. More wholesale lender options mean more competition — and better terms for borrowers.
620+
Min Credit Score
1-2 Yrs of 1099s
Income Docs
10%
Min Down Payment
12 Months
Self-Employed Min
1099 Loans in Needles
You qualify using your 1099 forms — typically 1 to 2 years. No W-2s required. No tax return write-offs working against you.
Lenders look at your gross 1099 income, not your taxable income. That gap is huge for most self-employed borrowers. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Needles.
Needles sits at California's eastern edge, where the Colorado River meets the Mojave Desert. Self-employed workers and contractors are a real part of this economy.
HousingWire flagged that Pennymac TPO just rolled out a non-QM suite that includes 1099 loans. More wholesale lender options mean more competition — and better terms for borrowers.
You qualify using your 1099 forms — typically 1 to 2 years. No W-2s required. No tax return write-offs working against you.
Most retail banks won't touch 1099 income without tax returns showing strong net income. Wholesale lenders built non-QM products specifically for this gap.
At SRK CAPITAL, we access 200+ wholesale lenders. That means we find programs that fit your 1099 income — not force you into a box that doesn't fit.
The biggest mistake 1099 borrowers make: they apply at their personal bank first. That bank sees write-offs and says no. Non-QM lenders see gross revenue and say yes.
Two years of 1099s is the cleanest scenario. One year is possible with strong income and reserves. Self-employed less than 12 months? You'll need to wait.
Bank Statement Loans let lenders use 12-24 months of deposits instead of 1099s. If your income is mixed or inconsistent, that program may work better.
Asset Depletion Loans work if you have heavy savings but light income. Each program targets a different income profile. We run your numbers across all of them.
Needles has a small housing market. Lower price points mean loan amounts stay manageable — a real advantage for non-QM borrowers where rates run higher.
San Bernardino County stretches across a wide area. Self-employed workers in trades, transport, and tourism are common here. 1099 loans were built for exactly this borrower.
Some lenders allow it with strong income and reserves. Two years is still the cleaner path to approval.
Yes — non-QM rates run higher than conventional. Lower loan amounts in Needles can offset some of that cost. Rates vary by borrower profile and market conditions.
Most non-QM lenders start at 620. A higher score gets you better rates and more program options.
Lenders use your gross 1099 income — not what's left after deductions. That's the core advantage over conventional qualifying.
Yes. Where you work doesn't affect eligibility. What matters is your documented 1099 income history.