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Davis sits in Yolo County near Sacramento, with a large population of researchers, consultants, and self-employed professionals tied to UC Davis.
Many of these earners file 1099s every year. Traditional lenders routinely reject them. That's exactly who 1099 loans are built for.
620+
Min Credit Score
10–20%
Down Payment
1–2 Yrs 1099s
Income Docs
21–30 Days
Est. Close Time
1099 Loans in Davis
Lenders use your 1099 forms — typically 1 to 2 years — to calculate income. No tax returns required on most programs.
Most lenders want a 620+ credit score and 10-20% down. Stronger credit can mean better terms. Rates vary by borrower profile and market conditions.
Big retail banks rarely offer 1099 loans. This is a non-QM product — meaning it lives outside conventional Fannie/Freddie guidelines.
At SRK CAPITAL, we work with 200+ wholesale lenders. We find the ones who actually understand 1099 income and price it competitively.
The biggest mistake 1099 borrowers make: writing off too much income. Heavy deductions shrink your taxable income and kill your buying power on tax-return loans.
With a 1099 loan, lenders use gross 1099 income instead. That often qualifies you for significantly more than a conventional loan would allow.
Bank statement loans are the closest alternative. Instead of 1099s, you use 12-24 months of deposits to prove income. Good fit if you run expenses through a business account.
Profit & loss statement loans work well for contractors with a CPA. Each program hits differently depending on how you structure your business income.
Davis has a tight housing supply and steady demand from the university community. Self-employed borrowers who wait for a conventional fix often miss deals.
Yolo County prices are lower than the Bay Area, but competition is real. Having full loan approval — not just pre-qual — matters here.
Most lenders want two years. Some will work with one year if your income is consistent and your credit is strong.
Yes. Lenders add up all 1099s from any source. Just be ready to show all forms for the qualifying period.
No — that's the advantage. Lenders use your gross 1099 income, not your taxable income after deductions.
Typically yes. Non-QM pricing reflects added risk. Rates vary by borrower profile and market conditions.
Most single-family homes and condos qualify. Mixed-use or rural properties may have restrictions depending on the lender.
Plan for 21-30 days. Non-QM underwriting takes slightly longer than conventional. Starting early matters in a competitive market.