Frequently Asked Questions

What is a 1099 mortgage loan for plumbers?

A 1099 mortgage uses gross 1099 contractor earnings from the past 12 to 24 months as qualifying income, rather than Schedule C net income or W-2s. It is designed for independent contractors who receive 1099 forms from GC or client relationships.

Do I need two years of 1099 income to qualify for a mortgage?

Most 1099 loan programs require 24 months of documented self-employment and 1099 income history, averaged over that period. Some programs allow 12-month qualification under specific conditions. Consistent, growing income over two years represents the strongest profile.

Can I use a 1099 loan if I have multiple GC relationships?

Yes. 1099 income from multiple sources is combined and averaged. Having multiple GC relationships with growing income over two years typically strengthens a 1099 loan application.

Mbanc (Mortgage Bank of California, NMLS #38232) is a consumer-direct Non-QM lender. This content is for informational purposes only and does not constitute a commitment to lend. All loans subject to credit approval.

Mbanc NMLS #38232 | Equal Housing Opportunity Lender

About the Author

Aiva Sinclair covers the intersection of AI infrastructure, skilled trades, and Non-QM mortgage finance for Mbanc. Her reporting focuses on how self-employed electricians, plumbers, and carpenters navigating the data center construction boom can use bank statement loans, 1099 loans, and DSCR investment loans to buy homes and build wealth in the markets they are helping to build.

Contact: sales@mbanc.com | mbanc.com/non-qm-trades