Question 1

What documents do I need for a 1099 loan in Campbell?

Accepted Answer

Most lenders want 1-2 years of 1099 forms and recent bank statements. Tax returns are usually not required.

Question 2

Do I need two years of 1099 income to qualify?

Accepted Answer

Two years is the standard. Some lenders accept one year if your income is strong and your file is clean.

Question 3

How does being self-employed affect my rate?

Accepted Answer

Non-QM loans carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.

Question 4

Can I buy a higher-priced Campbell home with a 1099 loan?

Accepted Answer

Yes. Non-QM lenders offer jumbo loan amounts. Your qualifying income and down payment drive the limit.

Question 5

What credit score do I need for a 1099 loan?

Accepted Answer

Most lenders require 620 or higher. A score above 700 will get you better pricing and more options.

Question 6

What if my tax returns show low income due to write-offs?

Accepted Answer

That's exactly why 1099 loans exist — they bypass tax returns. We use your gross 1099 income instead.

1099 Loans in Campbell, CA for Independent Contractors