Question 1

What income documents do I need for a 1099 loan in Woodlake?

Accepted Answer

Most lenders want 12–24 months of 1099 forms. Tax returns are not required for this loan type.

Question 2

Can I qualify if I've been self-employed for only one year?

Accepted Answer

Some lenders allow it with strong 1099 income and credit. Two years of history gives you more options.

Question 3

Are 1099 loans more expensive than conventional loans?

Accepted Answer

Yes, non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need for a 1099 loan?

Accepted Answer

Most lenders require 620 or higher. Better scores bring better rates and lower down payment requirements.

Question 5

How is my qualifying income calculated?

Accepted Answer

Lenders average your 1099 earnings over 12 or 24 months. The method used directly affects your max loan amount.

Question 6

Can a broker help me find 1099 loans in Tulare County?

Accepted Answer

Yes. Brokers with non-QM lender access can shop programs retail banks don't offer. That's where these loans live.

1099 Loans in Woodlake, CA for Self-Employed Borrowers