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Petaluma has a strong base of freelancers, consultants, and self-employed professionals. Standard W-2 loans shut most of them out.
A 1099 loan uses your contractor income directly — no tax returns required to prove what you earn.
620+
Min Credit Score
1-2 Yrs 1099s
Income Docs
10-20%
Down Payment
2 Years Typical
Income History
1099 Loans in Petaluma
Most lenders want 1-2 years of 1099 forms showing consistent income. Some also accept contracts or client invoices.
Credit score minimums typically start at 620. Expect to put down 10-20% depending on the lender and loan size.
Local decision guide
Use this guide to connect 1099 loans eligibility, lender expectations, and local market factors before comparing payment options in Petaluma.
Petaluma has a strong base of freelancers, consultants, and self-employed professionals. Standard W-2 loans shut most of them out.
A 1099 loan uses your contractor income directly — no tax returns required to prove what you earn.
Most lenders want 1-2 years of 1099 forms showing consistent income. Some also accept contracts or client invoices.
Most big retail banks won't touch 1099 borrowers without two years of tax returns showing strong adjusted gross income.
Wholesale lenders built for non-QM lending are where these deals get done. That's where we operate.
The biggest mistake 1099 borrowers make: writing off too much income on taxes. It kills your qualifying income on paper.
We look at your gross 1099 income — not your Schedule C net. That's the difference between approved and declined.
Bank statement loans use 12-24 months of deposits instead of 1099s. Better fit if your income flows through a business account.
Profit & Loss loans work well if you have a CPA preparing current financials. Each program fits a different income structure.
Petaluma's economy runs on wine, tech, and creative industries. All three produce heavy concentrations of contract workers.
Sonoma County home prices demand real purchasing power. A 1099 loan that counts your full gross income gets you there.
Most programs want two years, but some lenders accept one year with strong income and good credit. It depends on the lender.
Not on a 1099 loan. Lenders use your gross 1099 income, not your taxable income after deductions.
Most non-QM lenders start at 620. Higher scores get you better rates — 700+ opens more programs.
Yes. Lenders add up income from all your 1099 sources. Diversified clients can actually strengthen your file.
Expect rates slightly higher than conventional loans. Non-QM programs carry more flexibility, and that has a cost. Rates vary by borrower profile and market conditions.
No. A 1099 loan uses your contractor income forms. A bank statement loan uses deposit history. Different docs, different programs.