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.
Qualifying Income is 12-months average from the total earnings reported (10% Expense Factor)
- Minimum FICO 660
- 1-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.