Question 1

Can I use one year of 1099s to qualify in Mount Shasta?

Accepted Answer

Some non-QM lenders accept one year of 1099 income. It depends on your credit profile and down payment size.

Question 2

Do tax deductions hurt my 1099 loan approval?

Accepted Answer

Yes. Heavy write-offs lower your taxable income. Some lenders use gross 1099 income instead — that's the option to pursue.

Question 3

What's the minimum down payment for a 1099 loan?

Accepted Answer

Most 1099 loan programs require 10-20% down. Lower credit scores push that requirement higher.

Question 4

Are 1099 loans available for rural Siskiyou County properties?

Accepted Answer

Yes. We work with wholesale lenders that lend in rural California counties, including Siskiyou.

Question 5

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

Accepted Answer

A 1099 loan uses your income forms directly. Bank statement loans look at actual deposits — useful when income varies month to month.

Question 6

Do 1099 loans have higher interest rates than conventional loans?

Accepted Answer

Generally yes. Non-QM products carry more lender risk. Rates vary by borrower profile and market conditions.

1099 Loans in Mount Shasta for Independent Earners