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1099 Loans in Rio Vista
Rio Vista's Delta waterfront draws self-employed buyers—yacht brokers, marina operators, real estate investors who live on 1099 income. Traditional lenders reject these borrowers because tax write-offs crater their W-2-equivalent income on paper.
We place 1099 loans that qualify you on gross receipts before deductions, not the net income you show the IRS. That means the boat slip you deduct won't kill your buying power.
You need 12-24 months of 1099s showing consistent contractor income. Most lenders want 640+ credit and 10-20% down depending on your income stability and debt ratios.
We calculate qualifying income by averaging your gross 1099 receipts, then applying a standard expense ratio—usually 10-30% depending on your industry. No need to show net profit that tax prep destroyed.
Most portfolio lenders and Non-QM shops offer 1099 programs, but expense ratios and documentation requirements swing wildly. One lender uses 15% expenses for consultants, another hits you with 35%—that gap changes your approval by $150K.
We shop your 1099s across lenders who specialize in contractor income. Rates run 1-2 points above conventional because you're outside agency guidelines, but approval odds beat trying to force-fit a bank statement loan.
If you're 1099 but also get some W-2 income, lead with the W-2 and use 1099 as supplement—blended income loans get better rates. If it's 100% contractor work, make sure your 1099s come from multiple clients so one revenue source doesn't sink you.
Rio Vista buyers often have seasonal income from Delta tourism work. We look for lenders who'll average 24 months instead of penalizing a slow winter. Don't hide income drops—explain them upfront with contracts showing renewal.
Bank statement loans let you avoid showing 1099s entirely—just 12-24 months of deposits. Use those when your income is irregular or you mix business and personal accounts. 1099 loans work better when your contractor income is clean and consistent.
Profit & loss loans require a CPA-prepared P&L, which costs $500-1500 but can show higher income if your write-offs are minimal. Asset depletion makes sense if you're semi-retired with investment accounts but spotty 1099 work.
Rio Vista home prices vary wildly from Delta mobile home parks to $800K waterfront houses. 1099 loans scale better for higher-priced properties because the rate premium matters less when you're buying equity-building waterfront, not chasing monthly payment.
Solano County appraisals move slower than urban markets—expect 2-3 weeks for a Delta property report. Build that timeline into your 1099 loan close, especially if you're self-employed and doing a cash-out refi to fund your business.
Most lenders require 12-24 months minimum. Some will stretch to 10 months if your income is high and you show prior work history in the same field.
Lenders average the period or use the lower year. Upfront explanation with new contracts showing recovery helps—silence about drops kills deals.
No. 1099 loans verify contractor income via tax forms and deposits. Business licenses matter for self-employment loans that require P&L statements.
Yes, but expect 20-25% down and higher rates. Lenders layer investor risk on top of non-W-2 income, so pricing jumps.
We use last year's 1099s and year-to-date income proof. If you're mid-year, some lenders accept a CPA letter projecting current year income.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.