Question 1

Can I qualify with just one year of 1099 income?

Accepted Answer

Some lenders accept one year. Two years is stronger and opens more programs.

Question 2

Do large tax write-offs hurt my 1099 loan approval?

Accepted Answer

Yes. Lenders use gross 1099 income minus certain expenses. Heavy deductions reduce your qualifying number.

Question 3

What credit score do I need for a 1099 loan in Los Altos Hills?

Accepted Answer

Most non-QM lenders want 660 or higher. A stronger score improves your rate. Rates vary by borrower profile and market conditions.

Question 4

How is a 1099 loan different from a bank statement loan?

Accepted Answer

A 1099 loan uses your tax forms to document income. Bank statement loans use deposit history instead.

Question 5

Can a 1099 loan cover a jumbo purchase in Los Altos Hills?

Accepted Answer

Yes. Non-QM lenders offer jumbo 1099 programs. Reserve requirements are typically higher on larger loan amounts.

1099 Loans in Los Altos Hills for Independent Earners