Question 1

Do I need two years of 1099s to qualify in Tulare?

Accepted Answer

Most lenders want two years. Some accept one year if your income is strong and consistent.

Question 2

Can I use 1099 income from multiple clients?

Accepted Answer

Yes. Lenders total all 1099 income from all sources. Bring forms from every client you worked with.

Question 3

What if my taxable income is low after deductions?

Accepted Answer

That's the core problem with conventional loans. A 1099 loan uses gross 1099 income, not your tax return's net figure.

Question 4

How much down payment do I need?

Accepted Answer

Plan for at least 10%. Some lenders require 20% depending on your credit profile and loan size.

Question 5

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

Accepted Answer

No. A 1099 loan uses your income forms directly. A bank statement loan uses deposit history instead.

Question 6

How long does a 1099 loan take to close in Tulare?

Accepted Answer

Non-QM loans typically take 21–30 days. Have your 1099s, ID, and asset docs ready at the start.

1099 Loans in Tulare, CA for Independent Earners