1099 Income Loans
Credit scores starting at 600
Up to 90% LTV, No MI
Our 1099 income loan option is for underserved self-employed borrowers who are 1099 workers. Many freelancers, contractors, gig economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines.
These underserved borrowers can use 1099 earning statements in lieu of tax returns to qualify for a mortgage. Our 1099 Income loan is an alternative loan solution that helps many self-employed 1099 earners achieve homeownership. 
Maximum LTV 90% with 700 score
Maximum LTV 80% with 640 score
Loans up to $3 million, Minimum loan of $150,000
No tax returns are required
Most recent one or two years 1099 plus year to date earning statement allowed
Year to date earnings are verified from earning statement, paystubs, or bank statements
1099s must be from a single employer
Borrower must be self-employed working for the same employer for two years
Owner-occupied, second homes, and non-owner occupied
Purchase and cash-out or rate-term refinance
Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
Non-warrantable condos allowed