Question 1

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

Accepted Answer

Some lenders accept 12 months of 1099s. Two years is stronger and opens more programs.

Question 2

Does my self-employment type matter for this loan?

Accepted Answer

No. Freelancers, consultants, and gig workers all qualify. The key is consistent 1099 income.

Question 3

Will my tax write-offs hurt my approval?

Accepted Answer

Not with a 1099 loan. Lenders use your gross 1099 income, not your taxable income after deductions.

Question 4

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

Accepted Answer

A 1099 loan uses your contractor income forms. A bank statement loan uses 12-24 months of deposit history.

Question 5

What credit score do I need for a 1099 loan in Ojai?

Accepted Answer

Most programs start at 620. A score above 700 gets you meaningfully better rate options.

Question 6

Is a 1099 loan harder to get than a conventional loan?

Accepted Answer

It has different requirements, not necessarily harder ones. For self-employed buyers, it's often easier to qualify.

1099 Loans in Ojai for Independent Contractors