If you’re an independent contractor or 1099 earner, there may be mortgage options built around how you actually get paid.
Traditional mortgage qualification doesn’t always tell the full story for independent contractors. Certain Non-QM programs may allow eligible borrowers to qualify using their 1099 earnings rather than relying solely on traditional W-2 income documentation.
1099 loans are one of several Non-QM loan options. Compare them all in the self-employed mortgage guide.
Not a guarantee of qualification — lenders still review credit, assets, the property and the down payment.
How many years of 1099s are reviewed, and how income is calculated, varies by lender and program.
The goal is to find the documentation method that accurately reflects how you earn money and matches an available loan program.
Tell me roughly what you earn, what you’re looking to buy and how much you plan to put down. I’ll tell you which options are worth exploring.
I’ll take a look at your scenario and come back to you personally with the options worth exploring and what I’d need to confirm them. If you’d rather talk sooner, text me at 323.823.7913.
A Non-QM loan that may let eligible independent contractors and 1099 earners qualify using their 1099 income, rather than relying solely on traditional W-2 or tax-return income documentation.
It depends on the program. Lenders differ on how many years of 1099s they review, how income is averaged, and whether an expense factor is applied. I’ll look at your numbers against the programs that are available.
Some 1099 programs may not require full personal tax returns, but documentation requirements vary by lender and program. Once I’ve reviewed your scenario I’ll tell you exactly what’s needed — please don’t upload documents here.
Tell me about both. Depending on the program, it may be possible to combine eligible income sources.
A 1099 loan looks at the income reported on your 1099s. A bank statement loan looks at the deposits landing in your accounts. Which fits better depends on how you get paid.
No. Sending your scenario through this page doesn’t pull your credit, and there’s no obligation.