Question 1

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

Accepted Answer

Some lenders accept one year. Most prefer two. One-year programs typically require stronger credit and larger down payments.

Question 2

Do 1099 loans have higher interest rates?

Accepted Answer

Yes — non-QM loans price higher than conventional. Rates vary by borrower profile and market conditions, but the gap is often manageable given your qualifying flexibility.

Question 3

What if my income dropped last year?

Accepted Answer

Lenders may average two years or use the most recent year only. A drop raises flags — we find lenders who handle income variation best.

Question 4

Can I buy in Dixon with a 1099 loan and 10% down?

Accepted Answer

Yes, 10% down is available on some programs. Lower down payments often require stronger credit and reserves.

Question 5

How is my income calculated with a 1099 loan?

Accepted Answer

Lenders take your gross 1099 income — before business deductions — and apply an expense factor. Each lender runs this differently.

Question 6

How long does a 1099 loan take to close?

Accepted Answer

Expect 21-30 days with complete documentation. Missing or inconsistent 1099s are the most common delay we see.

1099 Loans in Dixon, CA — Built for Independent Earners