Financing in Monrovia>Question Details

malinepeter, Home Buyer in Monrovia, CA

i have only one 1099 form. can i qualify for a loan? what to do? i need to buy a house..

Asked by malinepeter, Monrovia, CA Tue Feb 12, 2013

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I work with several Loan professionals, I am also very familiar with the San Gabriel Valley. Let me help you and guide you.
1 vote Thank Flag Link Wed Feb 13, 2013
A Loan depends on your income not how many 1099"s you have. There are many different programs available. Talk to a Banker and see how much you qualify for. The find a good agent that can help you find what fits your budget and your dream.
1 vote Thank Flag Link Wed Feb 13, 2013
Like everyone else, you will need to speak with a mortgage broker one on one who can evaluate your situation. I recommend finding someone in your community to speak with and explore your options.
1 vote Thank Flag Link Wed Feb 13, 2013
Most likely not. You'll need a strong source of regular income to qualify for a loan sufficient to purchase a house. Your best strategy now is to save up to make a purchase with all cash.

As much as we'd all love to put you into a house, nobody really needs to buy a house. You can do just fine as a renter, especially if you're on a 1099.
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1 vote Thank Flag Link Tue Feb 12, 2013
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