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1099 Loans in Redding
Can I use just one year of 1099s to qualify?
Some lenders allow it with strong credit and reserves. Two years is the cleaner file and gets you better pricing.
01
Redding has a strong base of self-employed workers — contractors, consultants, truckers, and tradespeople. Many earn solid income but can't show it on a W-2.
A 1099 loan is a non-QM product built for exactly that borrower. It uses your 1099 forms instead of tax returns to qualify your income.
620–640 typical
Min Credit Score
1–2 years of 1099s
Income Doc
10–20% typical
Down Payment
Non-QM
Loan Type
02
Most lenders want 1-2 years of 1099s. They average your gross earnings — not what's left after write-offs. That's a big deal if your tax return shows almost nothing.
Expect a minimum credit score around 620-640. Down payment requirements typically start at 10-20%. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Redding.
Redding has a strong base of self-employed workers — contractors, consultants, truckers, and tradespeople. Many earn solid income but can't show it on a W-2.
A 1099 loan is a non-QM product built for exactly that borrower. It uses your 1099 forms instead of tax returns to qualify your income.
Most lenders want 1-2 years of 1099s. They average your gross earnings — not what's left after write-offs. That's a big deal if your tax return shows almost nothing.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
03
Big retail banks don't do these loans. They live in the wholesale and non-QM lender space. That's exactly where SRK CAPITAL operates — across 200+ wholesale lenders.
Not every lender prices 1099 loans the same. Some are aggressive with rates. Others load on fees. Shopping the wholesale market is how you find the actual best deal.
04
The most common mistake I see: a 1099 borrower files aggressive taxes, writes off everything, and then wonders why they can't qualify. Your tax return kills you on a conventional loan.
On a 1099 loan, we use your actual 1099 income. If you earned $120K last year and wrote off $80K, conventional lenders see $40K. We see $120K. That difference changes everything.
05
Bank Statement Loans are the closest alternative. Instead of 1099s, lenders use 12-24 months of bank deposits to calculate income. Better fit if you mix 1099 with cash deposits.
P&L loans use a CPA-prepared profit and loss statement. Asset Depletion loans work if you have large reserves but low active income. Each path fits a different borrower.
06
Redding's construction and trades sectors run heavily on 1099 work. Subcontractors, owner-operators, and independent service providers are everywhere in Shasta County.
Shasta County's cost of living is lower than coastal California. That works in your favor — your 1099 income stretches further here than it would in Sacramento or the Bay Area.
FAQ
Some lenders allow it with strong credit and reserves. Two years is the cleaner file and gets you better pricing.
No. Lenders use gross 1099 income, not your taxable income. That's the key advantage over conventional loans.
Most lenders want 620-640 minimum. A higher score gets you better rates. Rates vary by borrower profile and market conditions.
Expect 10-20% down on most 1099 loan programs. Some lenders go lower with strong credit and reserves.
No. A 1099 loan qualifies income using your 1099 forms. Bank statement loans use deposit history instead.
Yes — it's designed specifically for 1099 earners. Tradespeople, consultants, and owner-operators use this program regularly.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in Shasta County
Our team of licensed mortgage brokers works Shasta County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
What working with us looks like
Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including Shasta County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
Side-by-side comparisons to help you choose the right mortgage program.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.