Frequently Asked Questions
Does a 1099 mortgage require me to show my Schedule C or tax return?
Quick Answer: No. A 1099 loan qualifies entirely on your gross 1099-NEC earnings — no Schedule C, no federal tax returns, no state returns. Your tax return is not part of the application. This is the core advantage of the product for independent contractors with significant business deductions.
Can I use a 1099 loan if my 1099 income varies year to year?
Yes. Variable 1099 income is common for project-based contractors. A 24-month 1099 program averages the two years. A 12-month program uses only the most recent year. If your most recent year is higher, the 12-month program benefits you. The key is that 1099-NEC documentation exists for both years from established GC relationships.
How long do my GC relationships need to be documented for a 1099 loan?
Most 1099 loan programs require 2 years of self-employment documentation — meaning your GC relationships should have been generating 1099-NEC income for at least 2 years. Some programs allow 12 months with a strong profile, but 24 months provides the most program access.
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.
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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