Question 1

Do I need two years of 1099s to qualify?

Accepted Answer

Most lenders want two years, but some accept one. A strong credit profile and larger down payment can help with one-year files.

Question 2

Can I use both W-2 and 1099 income?

Accepted Answer

Yes. Lenders can often blend W-2 and 1099 income. Full documentation of both income streams is required.

Question 3

Will my tax deductions hurt my qualifying income?

Accepted Answer

On a 1099 loan, lenders use gross 1099 income — not your taxable income. Deductions matter less here than on a conventional loan.

Question 4

How is a 1099 loan different from a bank statement loan?

Accepted Answer

1099 loans use your contractor income forms. Bank statement loans use deposit history. Both are non-QM — the best fit depends on your numbers.

Question 5

What interest rates should I expect on a 1099 loan?

Accepted Answer

Rates run higher than conventional loans — that's the trade-off for flexible income docs. Rates vary by borrower profile and market conditions.

Question 6

Is a 1099 loan available for investment properties in Visalia?

Accepted Answer

Yes. Some lenders allow 1099 loans on investment properties. Expect a higher down payment and stricter reserve requirements.

1099 Loans in Visalia — Built for Independent Earners