1099 Only LOAN

Ideal for 1099 earners

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

1099 ONLY
LOAN PROGRAM

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

  • Minimum FICO 620
  • 2-year history with 1099 income
  • Up to 90% LTV on Purchase and Rate & Term Refinance
  • Up to 85% LTV on Cash-Out
  • Loan Amount Up to $3.5M
  • Interest-Only Available with 30 or 40 Year Term
  • 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 all details | Products subject to change without notice | Contact your AE for details.