California 1099 Home Mortgages
No Credit Impact Mortgage Prequalification
California 1099 Home Mortgage Lender
Welcome to Capital Home Mortgage California, where we strive to provide California’s 1099 Self Employed homebuyers and homeowners alternative options to purchase, refinance, or cash out home loans.
California 1099 Home Mortgages are tailored for self-employed individuals, freelancers and independent contractors who earn income through 1099 forms rather than W-2 employment. These loans are popular options in California’s dynamic and diverse economy.
Capital Home Mortgage California can guide purchasers through this non-traditional mortgage path, offering individualized solutions. Our extensive experience and dedication to customer service make us a dependable option for California Non-QM loans.
Call today (888) 620-7744 to speak to a California 1099 Mortgage Specialist.
California 1099 Home Loans
A 1099 Home Loan is for underserved self-employed borrowers who are 1099 workers. Many freelancers, contractors, economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines. These borrowers can use 1099 earning statements in lieu of tax returns to qualify for a mortgage. The 1099 Income loan is an alternative loan solution that helps many self-employed 1099 earners achieve homeownership
- Purchase, Rate & Term, Cash-Out
- Primary, Secondary and Investment
- Minimum Credit 620
- Maximum LTV 90%
- No Tax Returns Required
- YTD Earnings Verified
- Single Employer Only
- Two Year Seasoning Foreclosures / Bankruptcy
- Interest Only Available
- Minimum Loan 150K / Maximum Loan 3M
Key Features of California 1099 Home Mortgages
Income Verification
- Borrowers qualify based on their 1099 income from one or more sources.
- Traditional documents like tax returns or W-2s are not required.
- Instead, lenders may use: Year-to-date income from 1099 forms
Flexible Loan Options
- Available for primary residences, second homes, and investment properties.
- Loan amounts may include jumbo loans, ideal for high-cost California housing markets.
Down Payment or Equity Requirements
- Typically 10-20% down payment for purchases.
- For refinancing, lenders may allow up to 80-90% loan-to-value (LTV) depending on credit and financial profile.
Credit Score Requirements
- Minimum credit score requirements start around 620, but better terms are available for borrowers with scores above 680.
Loan to Value Ratios (LTV)
- Purchase Loans: Up to 90% LTV.
- Refinances: Up to 80-85% LTV, depending on the program.
- Interest Rates: Slightly higher than conventional loans due to the increased risk associated with alternative documentation.
Benefits of California 1099 Home Mortgages
- Alternative Documentation: Ideal for borrowers who don’t qualify under traditional income requirements.
- No Tax Returns Required: Helps those with significant tax deductions that reduce their reported income.
- High Loan Limits: Accommodates California’s high property values, especially in areas like Los Angeles, San Diego, and the Bay Area.
- Investment Property Eligibility: Great for borrowers expanding their real estate portfolios.
- Flexible Qualification: Tailored solutions for freelancers and independent contractors with multiple income streams.
Eligibility Requirements of California 1099 Home Mortgages
- Borrowers Must Provide 1-2 Yrs of 1099 Forms as Proof of Income
- Lenders typically use the gross income on the 1099 to calculate qualifying income.
- Bank Statements: May be required to verify that income shown on 1099 forms is being deposited into personal or business accounts.
- Credit History: A clean credit history with minimal late payments or delinquencies improves qualification chances.
- Reserves: Lenders may require 6-12 months of reserves, especially for higher loan amounts or investment properties.
- Debt-to-Income Ratio (DTI): Calculated based on qualifying income derived from 1099s and bank statements. Flexible DTI ratios are typically offered.
How California 1099 Home Mortgages work
- Income Calculation: Lenders may calculate income as 90-100% of the gross 1099 income, depending on the borrower’s expenses and may require a P&L statement for additional verification.
- Loan Approval: Approval is based on the strength of 1099 income, credit profile, property value, and reserves.
- Property Types: Single-family homes, condos, townhouses, and multi-family properties qualify. Investment properties and second homes are also eligible.
Who Should consider a California 1099 Home Mortgage
- Independent Contractors: Professionals like realtors, consultants, designers, and artists.
- Gig Workers: Drivers for rideshare platforms, delivery services, or other app-based businesses.
- Self-Employed Borrowers: Entrepreneurs and small business owners who file 1099s.
- High-Income Professionals with Write-Offs: Individuals with high gross income but significant deductions on tax returns.
California Non Qualified Mortgage Rates
Have you ever wondered why interests rates are what they are and what determines the final rate? Why borrowers receive different interest rates? Or why rates go up and down? Interest Rates are calculated using several factors.
- Demand for Mortgage Securities
- Property Securing the Mortgage
- Occupancy of the Property
- Loan to Value of the Property
- Borrower’s Credit Worthiness
Why California is Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates & Fees
Exceptional Service
7 Day a Week Support Application to Funding
California Mortgage Company Reviews
California Mortgage Team
California Mortgage Programs
California Purchase loans
Looking to Purchase a California Home?
- Primary, 2nd Home, Investment
- Low Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
California Renovation Loans
Looking to Rehab a California Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
California FHA Home loans
Great First Time California Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
California va Home Loans
100% Financing for California Veterans
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
California Conventional loans
Flexibility for California Homebuyers
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
California Jumbo Home Loans
California Non-Conforming Mortgage Loans
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
California USDA Home loans
100% California Rural Home Mortgages
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
California Native american Loans
California Hud 184 Home Loans
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
California Manufactured loans
Great California Affordable Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
California Reverse Mortgages
Your California Home at Work for You
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
California Non QM Home loans
Making California Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
California construction Loans
Build Your California Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
California Refinance Home Loans
California Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
California Cashout Home Loans
California Equity Cash Out Mortgages
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education
