Question 1

What documents do I need for a 1099 loan in Yuba City?

Accepted Answer

Bring 2 years of 1099s, recent bank statements, and a CPA letter if available. The stronger your paper trail, the better your file looks.

Question 2

Can I use multiple 1099 sources to qualify?

Accepted Answer

Yes, as long as the income is from the same general industry. Lenders want to see consistency, not just total dollar amounts.

Question 3

Do 1099 loans have higher rates than conventional loans?

Accepted Answer

Yes, typically. Non-QM programs carry more risk for lenders, so rates run higher. Rates vary by borrower profile and market conditions.

Question 4

Can I get a 1099 loan with only one year of self-employment?

Accepted Answer

Some lenders allow it, but 2 years is the standard. One year files need strong credit and larger down payments to get approved.

Question 5

Does my tax return income matter for a 1099 loan?

Accepted Answer

No — that's the point of this program. Lenders use your gross 1099 earnings, not the net figure after write-offs on your return.

Question 6

Are 1099 loans available for investment properties in Sutter County?

Accepted Answer

Yes. Some non-QM lenders allow 1099 income documentation on investment purchases. Down payment requirements are typically higher.

1099 Loans in Yuba City for Independent Contractors