Can I buy a house with 1099 income only?

Yes. 1099-only loans, bank statement loans, and conventional loans (with 2 years of 1099 history + tax returns) all work for 1099 borrowers.

Three paths for 1099 borrowers. (1) Conventional with 2 years of 1099 history plus tax returns: traditional underwriting that documents 1099 income via Schedule C and personal tax returns, average over 2 years. Best rate of the three options. Requires the income to show up on tax returns after deductions - heavy write-offs reduce qualifying income. (2) 1099-Only loans (non-QM): qualify on gross 1099 income summed from your 1099 forms, often with a 10% expense ratio applied. Skip the tax return entirely. Faster underwriting, modest rate premium (0.25-0.5% above conventional), down payment 10-15% on primary. (3) Bank Statement loans: qualify on 12-24 months of personal or business deposits. Useful when income is mixed (1099 + cash). Pricing similar to 1099-only. For 1099 borrowers with one year of self-employment, conventional usually requires 2 years; non-QM 1099-only programs accept 1 year if you had W-2 employment in the same field the prior year. Real estate agents are the largest 1099 borrower segment; insurance agents and consultants follow.