Question 1

Can I use just one year of 1099s to qualify?

Accepted Answer

Some lenders accept 12 months. Most want 24. We know which lenders allow one-year programs and when they make sense.

Question 2

Do I need to provide tax returns for a 1099 loan?

Accepted Answer

Not always. Many 1099 loan programs skip tax returns entirely. Your 1099 forms and bank statements do the job.

Question 3

What credit score do I need in Sebastopol?

Accepted Answer

Plan for 620 minimum, though better rates come with 700+. Rates vary by borrower profile and market conditions.

Question 4

How do lenders calculate my income from 1099s?

Accepted Answer

They average gross 1099 income over 12 or 24 months. No deductions applied — that's the key advantage over tax returns.

Question 5

Can I buy in Sebastopol with a 10% down payment?

Accepted Answer

Possibly. Some 1099 programs allow 10% down with strong credit. Most require 20% at lower credit tiers.

Question 6

Is a 1099 loan the same as a bank statement loan?

Accepted Answer

No. They use different income documentation. We often run both scenarios to see which gets you the stronger qualification.

1099 Loans in Sebastopol for Independent Earners