Question 1

Do I need two years of 1099s to qualify in Benicia?

Accepted Answer

Most lenders want two years. Some accept one year if your income is consistent and your credit profile is strong.

Question 2

Can I use 1099 income from multiple clients?

Accepted Answer

Yes. Lenders add up all your 1099s. More income sources can actually help show stability.

Question 3

Will my tax write-offs hurt my 1099 loan application?

Accepted Answer

Less than on a conventional loan. Lenders use your gross 1099 income, not your taxable income after deductions.

Question 4

How is a 1099 loan different from a Bank Statement loan?

Accepted Answer

A 1099 loan uses your income forms. A Bank Statement loan uses actual deposits. Which works better depends on your specific numbers.

Question 5

What credit score do I need for a 1099 loan in Benicia?

Accepted Answer

Most programs start at 620. Better scores bring better rates — rates vary by borrower profile and market conditions.

Question 6

Are 1099 loans more expensive than conventional loans?

Accepted Answer

Yes, rates run higher on non-QM products. The trade-off is qualifying on actual earnings instead of reduced taxable income.

1099 Loans in Benicia, CA — Built for Independent Earners