1099 loans
1099 Loans For Independent Contractors
Qualify for a mortgage using your 1099 income instead of traditional W2s or tax returns. Designed for independent contractors, freelancers, gig workers, and self-employed borrowers.
loan snapshot
Rates updated daily
30-yr. fixed
6.576%
6.592% APR
6.592% APR
15-yr. fixed
6.016%
6.045% APR
6.045% APR
7-yr. ARM
6.542%
6.564% APR
6.564% APR
30-yr. fixed VA
5.973%
6.103% APR
6.103% APR
Bank statement LOAN HIGHLIGHTS
bank statement loans are perfect for self-employed borrowers
Why 1099 Loans Are Popular
1099 income loans are designed for indpeendent contractors, business owners, freelancers, and entrepreneurs who may not qualify using traditional tax returnsno W2s required
Designed for independent contractors and self-employed borrowers who receive a 1099.
Flexible income documentation
Use 1099 income documentation instead of traditional employment verification.
Flexible Property Types
Finance primary homes, second homes, and investment properties.
Built for the modern income type
Ideal for freelancers, consultants, creators, and gig economy workers.
minimum requirents for a 1099 income loan
credit score
620+
minimum down payment
10% with ≥ 700 FICO
20% with ≥ 620 FICO
Debt-to-income ratio
Up to 55%
Mortgage insurance
Not Required
Occcupancy
Primary, vacation and investment
Loan limits
Up to $3 Million
1099 loans may be a good fit for you if...
You receive a 1099 from your employer(s)
Your income on tax returns is too weak to qualify for a conventional, FHA mortgage or jumbo loan
You need to qualify based on your true gross income
You have strong cash flow but significant business write-offs
1099 LOAN FAQ
Frequently Asked Questions
Get answers to some of the most common questions about 1099 loans loans for contractors and self-employed borrowers.
can freelancers qualify for a 1099 loan?
Absolutely. Freelancers, consultants, creators, and gig workers may qualify using 1099 income or alternative documentation.
are tax returns required for a 1099 loan?
No. This is one of the biggest benefit of the 1099 loan program. Tax returns are never required to qualify.
What is the minimimum credit score needed to qualify for a 1099 loan
We require at least a 620 minimum credit score to qualify for a 1099 loan.
Can I qualify for a bank statement loan without tax returns?
Yes. Bank statement loans are specifically designed for borrowers who may not qualify using traditional tax return income documentation.
Are 1099 Non-QM loans?
Yes, these loans often fall under Non-QM mortgage guidelines due to alternative income documentation.
ready to explore your Bank Statement loan options?
Let’s walk through your numbers, monthly payment, and available conventional loan options so you can understand the best path forward.
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