1099 Only

A 1099 Only loan is a unique mortgage program that has gained attention in recent years. Unlike traditional mortgages, these loans are tailored for self-employed individuals, gig workers, and freelancers who may not have conventional income documentation such as W-2 forms. The name “1099 Only” refers to the IRS Form 1099-MISC, which independent contractors receive to report their earnings. With this type of loan, we consider the applicant’s 1099 income as the primary basis for qualification, making it easier for those with non-traditional income streams to access mortgage financing.

  • Tax returns not required
  • Use 1099 & YTD bank statements
  • Max loan amount $3M
  • 100% gift for DP and closing cost

1099 Only loans have emerged as a unique and somewhat controversial financial option. These loans cater specifically to self-employed individuals or independent contractors who lack traditional W-2 income documentation. We have emerged as a leading lender that has intensive experience in obtaining financing for our 1099 borrowers. Rates for this program are slightly higher than conventional loans but at least financing is available for those borrowers who do not have the traditional income needed for a conventional-priced loan.

Contact us to learn more about 1099 Only Loans.

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