Question 1

Do I need two years of 1099 income to qualify?

Accepted Answer

Most lenders want 24 months. Some will work with 12 months if your income is consistent and your file is otherwise strong.

Question 2

Can I use 1099s from multiple clients?

Accepted Answer

Yes. Lenders add up all your 1099s across clients. They want to see stable, recurring income — not one large one-time payment.

Question 3

Will my tax write-offs hurt my qualifying income?

Accepted Answer

Not on a 1099 loan. Lenders use your gross 1099 income, so deductions on your tax return don't reduce your qualifying number.

Question 4

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

Accepted Answer

Most programs start at 620. Higher scores get you better rates and more lender options. Rates vary by borrower profile and market conditions.

Question 5

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

Accepted Answer

No. You still document your income — just with 1099 forms instead of W-2s or tax returns. Lenders verify what you earn.

Question 6

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

Accepted Answer

Loan limits depend on your qualifying income and debt-to-income ratio. Non-QM loans can go into jumbo territory for strong files.

1099 Loans in Ceres, CA for Independent Contractors