1099 Only LOAN

Ideal for 1099 earners

A great mortgage option for independent contractors such as photographers, website designers, gig workers, landscapers, bookkeepers, actors, musicians, Realtors, and even Mortgage Brokers.

1099 LOAN

Qualifying Income is 24-months average from the total earnings reported (10% Expense Factor)

  • Minimum FICO 660
  • 2-year history with 1099 income
  • Up to 90% LTV on Purchase
  • Up to 75% LTV on Cash-Out
  • Loan Amount Up to $3M
  • Interest-Only Available
  • YTD documentation to support continued receipt of income from same source – Bank statement deposits (YTD)
  • 4506-T Required (Box 8) if the IRS 1099 transcript is utilized

See product matrix for more details.