Question 1

Can I use one year of 1099s to qualify?

Accepted Answer

Some lenders accept one year. Most want two. Stronger credit and reserves improve your odds with a one-year file.

Question 2

Do I need to be incorporated to qualify?

Accepted Answer

No. Sole proprietors qualify. Lenders care about the income documentation, not your business structure.

Question 3

Will my tax write-offs hurt my 1099 loan?

Accepted Answer

No — that's the point. 1099 loans use gross income from your forms, not the net your tax return shows.

Question 4

Are 1099 loan rates higher than conventional rates?

Accepted Answer

Yes, non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 5

Can I buy in Wheatland with a 1099 loan?

Accepted Answer

Yes. There's no geographic restriction. Lenders look at your income and the property, not the zip code.

1099 Loans in Wheatland, CA for Independent Contractors