Question 1

Can I use just one year of 1099s to qualify?

Accepted Answer

Some lenders accept one year. Most want two. Stronger credit and larger down payments improve your odds with one year of history.

Question 2

Do I need to show tax returns for a 1099 loan?

Accepted Answer

No tax returns required. That's the point. Lenders qualify you on your 1099 income directly.

Question 3

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM loans carry a rate premium over conventional. Rates vary by borrower profile and market conditions.

Question 4

Can I get a jumbo 1099 loan in Los Gatos?

Accepted Answer

Yes. Some wholesale lenders combine non-QM income guidelines with jumbo loan sizes. Not all lenders offer both — we know which ones do.

Question 5

What if my 1099 income varies year to year?

Accepted Answer

Lenders typically average two years of income. A dip in one year can lower your qualifying number, so timing matters.

Question 6

How is this different from a bank statement loan?

Accepted Answer

1099 loans use your income forms. Bank statement loans use deposit history. The best fit depends on how your income is structured.

1099 Loans in Los Gatos for Self-Employed Borrowers