Question 1

How many months of 1099 history do I need?

Accepted Answer

Most lenders require 12 months minimum. Some accept 24 months if your income is seasonal or varies significantly month to month.

Question 2

Can I use multiple 1099 clients to qualify?

Accepted Answer

Yes. Lenders add up all your 1099 income as long as deposits match the forms. Having multiple clients sometimes strengthens your application.

Question 3

What if my 1099 income just started this year?

Accepted Answer

You need at least 12 months of history. If you're under a year, consider a co-borrower with W-2 income or wait until you hit 12 months.

Question 4

Do I need to show my tax returns?

Accepted Answer

No. That's the main advantage of a 1099 loan. Lenders use your 1099 forms and bank statements instead of tax returns.

Question 5

How do lenders calculate my qualifying income?

Accepted Answer

Most add your total 1099 income or average your deposits over 12-24 months. We calculate both ways and submit whichever is higher.

Question 6

What down payment do I need in Marysville?

Accepted Answer

Typically 10-15% depending on credit score and loan amount. Higher down payments sometimes unlock better rates with certain lenders.

1099 Loans in Marysville: Financing for Independent Contractors