Question 1

Can I use one year of 1099 income to qualify?

Accepted Answer

Some lenders accept 12 months. Most want two years. One-year programs typically require stronger credit and larger down payments.

Question 2

Do lenders use my gross or net 1099 income?

Accepted Answer

Gross income — before write-offs. That's the core advantage of a 1099 loan over a conventional mortgage.

Question 3

What if I have multiple 1099 clients?

Accepted Answer

Multiple clients actually helps. It shows income diversification, which most non-QM lenders view as lower risk.

Question 4

Are rates higher on 1099 loans than conventional?

Accepted Answer

Yes, typically. Non-QM pricing reflects added lender risk. Rates vary by borrower profile and market conditions.

Question 5

Will high Cupertino prices affect my 1099 loan options?

Accepted Answer

Loan amounts often exceed conforming limits in Cupertino. That means jumbo non-QM, which has stricter reserve requirements.

Question 6

Do I need to be self-employed for a set period?

Accepted Answer

Most lenders require at least 24 months of self-employment history. Some accept 12 months with strong compensating factors.

1099 Loans in Cupertino for Independent Contractors