Question 1

Can I use just one year of 1099s to qualify?

Accepted Answer

Some lenders accept 12 months of 1099 income. It depends on the lender and your credit profile. Expect a smaller pool of options.

Question 2

Do 1099 loans cost more than conventional loans?

Accepted Answer

Yes, typically. Non-QM pricing carries a premium over conventional rates. Rates vary by borrower profile and market conditions.

Question 3

What if my income varies month to month?

Accepted Answer

Lenders average your 1099 income over 12-24 months. Volatility is normal for contractors — consistency over time matters most.

Question 4

Can I buy a short-term rental in Yucca Valley with a 1099 loan?

Accepted Answer

Yes, but lender rules vary on investment property. Some 1099 programs limit non-owner-occupied purchases or require higher down payments.

Question 5

Will my tax write-offs hurt my 1099 loan qualification?

Accepted Answer

They can. Some lenders look at net income after deductions. Others use gross 1099 income. Program choice matters here.

1099 Loans in Yucca Valley for Independent Contractors