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San Bernardino has a large population of gig workers, truckers, and independent contractors. Traditional W-2 loans shut most of them out.
1099 loans exist specifically for this. Your tax returns don't tell the whole story — and lenders who offer these programs know that.
~620
Min Credit Score
12-24 Months
Income History Needed
10-20%
Down Payment
Gross 1099 Average
Income Calculation
Most lenders want 24 months of 1099 income history. Some will accept 12 months if your earnings are consistent.
Credit requirements vary by lender. Expect a minimum around 620, though stronger credit gets you better pricing. Rates vary by borrower profile and market conditions.
Most retail banks don't offer 1099 loans. This is a wholesale and non-QM lender product.
At SRK CAPITAL, we work with 200+ wholesale lenders. Several specialize in non-QM programs built for 1099 earners.
The biggest mistake 1099 borrowers make: writing off too much income on taxes. Low taxable income kills your approval.
Your 1099s go directly to the lender as proof of income. We calculate a qualifying income from those documents — not your Schedule C net.
Bank Statement Loans use 12-24 months of deposits to calculate income. That can work better if your 1099s don't reflect full earnings.
P&L Statement Loans lean on a CPA-prepared profit and loss. Each program fits a different income picture — the right one depends on your paper trail.
San Bernardino County has heavy logistics, construction, and trucking activity. Many workers in these sectors earn 1099 income year-round.
This loan program fits that workforce well. If you're a contractor hauling freight or building homes in the Inland Empire, this may be your clearest path to ownership.
Some lenders accept 12 months. Most prefer 24. A strong credit profile and large down payment improve your odds with 12-month programs.
Not always. Some programs skip tax returns entirely and use your 1099 documents directly. Your broker determines which lender fits your filing history.
Lenders typically average your gross 1099 earnings over 12-24 months. They don't deduct business expenses the way a tax return does.
Expect 10-20% down for most 1099 loan programs. Lower down payments are possible with stronger credit and income history.
Yes — rates run higher on non-QM programs. That's the trade-off for qualifying outside standard guidelines. Rates vary by borrower profile and market conditions.
Bring 12-24 months of 1099 forms, recent bank statements, and a valid ID. Some lenders also request a CPA letter confirming active self-employment.
1099 Loans in San Bernardino