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Tulare County runs on agriculture, trucking, and trades. A lot of that workforce earns 1099 income — not W-2 paychecks.
Traditional lenders see 1099 income and freeze up. A 1099 loan is built specifically for how you actually get paid.
620+
Min Credit Score
2 Years of 1099s
Income Docs
10–20%
Down Payment
21–30 Days
Est. Close Time
Non-QM
Loan Type
Lenders use your 1099 forms — typically two years — to verify income. Some will average them. Some take the most recent year.
Expect a credit score requirement of 620 or higher. Stronger scores open better rates. Rates vary by borrower profile and market conditions.
Your local bank almost certainly won't offer this product. It's a non-QM loan — meaning it falls outside standard agency guidelines.
We work with 200+ wholesale lenders. Several specialize in 1099 income. We find who's pricing it best right now.
The biggest mistake I see: borrowers submit inconsistent 1099s without explanation. Lenders want to see stable or growing income year over year.
If your income dropped one year, have a letter ready. Context matters more than people think on non-QM files.
Bank Statement Loans use 12–24 months of deposits instead of tax forms. Better fit if your 1099s don't reflect actual cash flow.
Profit & Loss Statement Loans work well for contractors with a CPA. Each option hits different. We run all three scenarios when it makes sense.
Tulare has a strong base of agricultural contractors, equipment operators, and independent haulers. Many file as sole proprietors and earn pure 1099 income.
As of April 2026, this loan type is one of the few paths to homeownership for that workforce. Conventional loans won't touch most of these files.
Most lenders want two years. Some accept one year if your income is strong and consistent.
Yes. Lenders total all 1099 income from all sources. Bring forms from every client you worked with.
That's the core problem with conventional loans. A 1099 loan uses gross 1099 income, not your tax return's net figure.
Plan for at least 10%. Some lenders require 20% depending on your credit profile and loan size.
No. A 1099 loan uses your income forms directly. A bank statement loan uses deposit history instead.
Non-QM loans typically take 21–30 days. Have your 1099s, ID, and asset docs ready at the start.
1099 Loans in Tulare