Question 1

Can I use 1099 income from multiple clients?

Accepted Answer

Yes. Lenders total all 1099s from the qualifying period. Multiple income streams are fine as long as the work is in the same field.

Question 2

Do I need two years of self-employment history?

Accepted Answer

Most lenders want two years. A few accept one year with strong income and a solid employment history in the same industry.

Question 3

Will my tax write-offs reduce my qualifying income?

Accepted Answer

Not with a 1099 loan. Lenders use your gross 1099 earnings, not your taxable income after deductions.

Question 4

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

Accepted Answer

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

Question 5

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

Accepted Answer

No. Both are non-QM, but they use different income documents. A broker can tell you which produces the higher qualifying income for your situation.

1099 Loans in Corning, CA — Built for Self-Employed Borrowers