Question 1

Do I need two years of 1099 income to qualify in Davis?

Accepted Answer

Most lenders want two years. Some will work with one year if your income is consistent and your credit is strong.

Question 2

Can I use 1099 income from multiple clients?

Accepted Answer

Yes. Lenders add up all 1099s from any source. Just be ready to show all forms for the qualifying period.

Question 3

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

Accepted Answer

No — that's the advantage. Lenders use your gross 1099 income, not your taxable income after deductions.

Question 4

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Typically yes. Non-QM pricing reflects added risk. Rates vary by borrower profile and market conditions.

Question 5

What property types qualify in Yolo County?

Accepted Answer

Most single-family homes and condos qualify. Mixed-use or rural properties may have restrictions depending on the lender.

Question 6

How long does a 1099 loan take to close in Davis?

Accepted Answer

Plan for 21-30 days. Non-QM underwriting takes slightly longer than conventional. Starting early matters in a competitive market.

1099 Loans in Davis, CA for Independent Contractors