Question 1

Do I need two years of 1099 income to qualify?

Accepted Answer

Most lenders want 24 months of 1099s in the same field. Some will work with 12 months if your income is strong and consistent.

Question 2

Can I use both W-2 and 1099 income?

Accepted Answer

Yes. Lenders can blend W-2 and 1099 income in some scenarios. How they calculate it depends on the lender's guidelines.

Question 3

Will my tax write-offs hurt my qualification?

Accepted Answer

Not with a 1099 loan. Lenders use your gross 1099 earnings — your deductions don't reduce the qualifying income number.

Question 4

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

Accepted Answer

Most lenders start at 620. Scores above 700 typically get better rates. Rates vary by borrower profile and market conditions.

Question 5

Is a 1099 loan the same as a stated income loan?

Accepted Answer

No. Income is still verified — just from 1099 forms instead of tax returns. You're not self-reporting a number without documentation.

Question 6

How much can I borrow with a 1099 loan in Sonoma County?

Accepted Answer

Loan amounts depend on your verified 1099 income, credit, and down payment. Non-QM lenders often go into jumbo territory with no issue.

1099 Loans in Cotati for Independent Contractors