Question 1

Can I use one year of 1099s to qualify in Arroyo Grande?

Accepted Answer

Some lenders accept 12 months of 1099s. Most prefer two years. Your credit score and down payment affect which options are available.

Question 2

Do I need to be incorporated to get a 1099 loan?

Accepted Answer

No. Sole proprietors qualify. Lenders just want to verify consistent self-employment and income.

Question 3

How much down payment do 1099 loans require?

Accepted Answer

Most 1099 loan programs require 10-20% down. Stronger credit and lower loan amounts can improve those terms.

Question 4

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

Accepted Answer

Not with a 1099 loan. Lenders use gross 1099 income — not your taxable income after deductions.

Question 5

Are 1099 loans available for investment properties in SLO County?

Accepted Answer

Yes. Non-QM lenders often offer 1099 programs for investment purchases. Expect higher rates and stricter reserve requirements.

1099 Loans in Arroyo Grande, CA