Who is this loan right for?
1099 Mortgage Loans are ideal for self‑employed borrowers, freelancers, consultants, and gig workers who earn most of their income via 1099 income instead of W‑2 wages. If your tax returns don’t reflect your true earnings because of business deductions, this loan gives you a realistic way to qualify using verifiable 1099 income.
Benefits of this loan program
- Income flexibility: 1099 income is acceptable for underwriting.
- Better approval odds: Helps borrowers with non‑traditional paystubs qualify.
- Supports variable earnings: Uses year‑over‑year 1099 data to demonstrate income stability.
- Wide usage: Suitable for purchase, refinance, and cash‑out transactions.
General eligibility requirements
- 12–24 months of 1099 tax documentation.
- Consistent self‑employment or contractor income.
- Minimum credit score typically around 620+.
- Acceptable debt‑to‑income ratio per lender guidelines.
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