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Los Gatos sits in the heart of Silicon Valley. Consultants, engineers, and creatives here often earn 1099 income.
Traditional lenders see 1099 income as risky. That shuts out a huge slice of high-earning Los Gatos borrowers.
620-660+
Min Credit Score
1-2 Years of 1099s
Income Docs
10-20% Typical
Down Payment
2 Years Preferred
Self-Employed Min
Non-QM
Loan Type
1099 Loans in Los Gatos
Lenders use your 1099 forms — typically one to two years — to calculate qualifying income. No tax returns required.
Expect a minimum credit score around 620 to 660. Stronger scores open better programs and lower rates.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Los Gatos.
Los Gatos sits in the heart of Silicon Valley. Consultants, engineers, and creatives here often earn 1099 income.
Traditional lenders see 1099 income as risky. That shuts out a huge slice of high-earning Los Gatos borrowers.
Lenders use your 1099 forms — typically one to two years — to calculate qualifying income. No tax returns required.
Most banks don't offer 1099 loans. This is a non-QM product — only wholesale lenders and specialty shops carry it.
We work with 200+ wholesale lenders. Several specialize in non-QM programs built exactly for 1099 earners.
The biggest mistake 1099 borrowers make: applying at their bank first. Big banks reject these files fast.
We've closed 1099 loans for tech contractors making $300K who couldn't get approved elsewhere. Income is real — the loan structure just has to match.
Bank Statement Loans use 12-24 months of deposits instead of 1099s. Better if you write off a lot of income.
Profit & Loss loans work off a CPA-prepared statement. Each option fits a different income picture — we match you to the right one.
Los Gatos home prices run high. You'll likely need a jumbo-tier non-QM loan, which adds another layer of lender requirements.
Santa Clara County's high cost of living pushes loan amounts well above conforming limits. Make sure your lender can handle both 1099 income and jumbo sizing.
Some lenders accept one year. Most want two. Stronger credit and larger down payments improve your odds with one year of history.
No tax returns required. That's the point. Lenders qualify you on your 1099 income directly.
Yes, typically. Non-QM loans carry a rate premium over conventional. Rates vary by borrower profile and market conditions.
Yes. Some wholesale lenders combine non-QM income guidelines with jumbo loan sizes. Not all lenders offer both — we know which ones do.
Lenders typically average two years of income. A dip in one year can lower your qualifying number, so timing matters.
1099 loans use your income forms. Bank statement loans use deposit history. The best fit depends on how your income is structured.