1099 Home Loans for California Contractors and Freelancers

Who it's for

• Independent contractors and consultants
• Nurses, therapists and other travel or per-diem professionals
• Real estate and insurance agents, sales reps on commission
• Gig and platform workers with steady 1099 income

How it works

1. Gather your 1099s. Usually the last one or two years, plus something showing year-to-date income.
2. The lender uses your gross 1099 income. An expense factor may apply, but it's typically far kinder than your tax return.
3. You qualify on that number. I'll compare this against a bank statement loan to see which gets you approved with better terms.

Typical guidelines

• 1099 history: 1–2 years, ideally in the same line of work
• Down payment: often 10–20%
• Credit score: around 620–660 minimum, depending on the program
• Reserves: a few months of payments in the bank after closing
• Tax returns: not required for income on most programs

Guidelines vary by lender and change often. Contact us for a current rate quote.

Why The Loan Me Company

I've worked with plenty of 1099 earners and know how lenders read these files. We'll set up your application to show your income clearly the first time. Need a home too? Our real estate side can help you find it.

1099 loan FAQ

What's the difference between a 1099 loan and a bank statement loan?

A 1099 loan uses your 1099 forms. A bank statement loan uses your deposits. If you have clean 1099s, this is often the simpler path. We'll check both.

I just switched from W-2 to 1099. Can I still qualify?

Possibly. Some lenders accept a shorter 1099 history if you've stayed in the same field.

Do I need a CPA letter?

Some programs ask for one, many don't. We'll tell you exactly what your lender needs up front.

Related loan programs

• Bank Statement Loans: Self-employed? Qualify on deposits, not tax returns

• FHA Loans: Low down payment, flexible credit

• First-Time Homebuyer Programs: Down payment help and grants

The Loan Me Company (Loan Me, Co.) · NMLS #2497863 · CA DRE #02220434 · Conor Cappa, Owner/Broker · NMLS #1450916 · CA DRE #02100091. San Diego, CA · Serving clients throughout California · 925-708-7991 · conor@loanmeco.com. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and property eligibility. Programs, rates, terms and conditions are subject to change without notice, and not all applicants will qualify. Guidelines shown are typical ranges and vary by lender. Contact us for a current rate quote. Equal Housing Opportunity.