Question 1

How many years of 1099s do I need?

Accepted Answer

Most lenders want one to two years of 1099 forms. Two years gives you more program options and better pricing.

Question 2

Can I use mixed W-2 and 1099 income?

Accepted Answer

Yes. Lenders can blend both income types. How they calculate it depends on the specific lender and program.

Question 3

Do write-offs hurt my 1099 loan application?

Accepted Answer

Less than on a conventional loan. Most 1099 programs use gross 1099 income, not your taxable income after deductions.

Question 4

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM products carry more lender risk. Rates vary by borrower profile and market conditions.

Question 5

What down payment does a 1099 loan require in Rohnert Park?

Accepted Answer

Most programs require 10-20% down. A stronger credit file and income history can improve your options.

Question 6

Can a contractor with one year of self-employment qualify?

Accepted Answer

Some lenders allow it with strong compensating factors. Two years is safer and opens more programs.

1099 Loans in Rohnert Park for Independent Contractors