Question 1

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

Accepted Answer

Some lenders accept one year if income is strong and stable. Two years is the standard and gives you more options.

Question 2

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

Accepted Answer

No. Lenders use your gross 1099 income, not your taxable income. That's the core advantage of this loan type.

Question 3

What credit score do I need for a 1099 loan?

Accepted Answer

Most lenders want 640 or higher. A stronger score improves your rate. Rates vary by borrower profile and market conditions.

Question 4

How much do I need to put down?

Accepted Answer

Expect 10-20% down depending on the lender and your credit profile. Lower down payments are possible with stronger qualifications.

Question 5

Is a 1099 loan the same as a bank statement loan?

Accepted Answer

No. They're separate programs. Both serve self-employed borrowers, but they use different income documentation.

Question 6

Can SRK CAPITAL shop multiple lenders for my 1099 loan?

Accepted Answer

Yes. We access 200+ wholesale lenders. We compare 1099 programs across multiple options before you submit an application.

1099 Loans in West Sacramento for Independent Earners