Loading
Cloverdale sits at the northern edge of Sonoma County wine country. Contractors, consultants, and gig workers are common here.
Standard loans reject 1099 earners constantly. Your gross income looks fine — your tax return doesn't.
640+
Min Credit Score
2 Yrs 1099s
Income Docs
10–20%
Down Payment
2 Years Typical
Self-Employment History
Lenders use your 1099 forms — typically two years — to verify income. No W-2s required.
Most programs want a 640+ credit score and 10-20% down. Stronger credit means better pricing.
Big retail banks rarely offer 1099 loans. These programs live in the wholesale and non-QM space.
At SRK CAPITAL, we work with 200+ wholesale lenders. We find who's pricing this loan competitively right now.
The biggest mistake I see: borrowers come in with one year of 1099s. Most programs require two.
If your income dropped year two, that's a problem. Lenders average the two years — or use the lower one.
Bank Statement Loans use 12-24 months of deposits instead of 1099s. Better if your write-offs are heavy.
P&L Statement Loans work if your income is irregular. Each program fits a different income profile.
Cloverdale has a strong base of independent tradespeople and vineyard contractors. 1099 income is the norm here.
Sonoma County's rural character means fewer local lenders. Going wholesale gives you far more options.
No. These loans qualify you on your 1099 forms, not your returns. That's the whole point of the program.
Most lenders want two years. A few programs allow one, but rates and terms are worse.
Most 1099 loan programs start at 640. Better scores mean better rates — rates vary by borrower profile and market conditions.
Expect 10-20% down depending on the lender and your credit profile. Lower down payments require stronger overall qualifications.
No. They're two different non-QM programs. Bank statement loans use deposit history. 1099 loans use your contractor income forms.
Yes. 1099 loans are non-QM products — no rural property restrictions like USDA loans have. Appraisal is the main variable.
1099 Loans in Cloverdale