Question 1

Can I use one year of 1099s to qualify in Sonora?

Accepted Answer

Some lenders accept one year if your income is stable and your credit is strong. Two years is safer and opens more lender options.

Question 2

Do I need a CPA letter for a 1099 loan?

Accepted Answer

Not always. Many lenders just need your 1099 forms and proof of active self-employment. A CPA letter can help if income is irregular.

Question 3

What credit score do I need for a 1099 loan?

Accepted Answer

Most non-QM lenders start at 620-640. Higher scores get better rates — and rates vary by borrower profile and market conditions.

Question 4

Will my tax write-offs hurt my 1099 loan approval?

Accepted Answer

No. That's the point of this product. Lenders use your gross 1099 income, not your taxable net.

Question 5

Are 1099 loans available for rural Tuolumne County properties?

Accepted Answer

Yes, but the property itself must appraise and meet lender guidelines. Rural acreage can add complexity — plan for a longer appraisal window.

Question 6

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

Accepted Answer

A 1099 loan uses your contractor income forms directly. A bank statement loan uses deposit history, which can capture more income types.

1099 Loans in Sonora, CA for Self-Employed Borrowers