WHAT IS A 1099‑ONLY LOAN
A 1099‑only loan allows independent contractors and gig‑economy workers to qualify for a mortgage using their 1099 income instead of tax returns. This program is ideal for borrowers whose tax write-offs reduce their reported income.
LEARN HOW 1099‑ONLY LOANS WORK
Lenders review your 1099 forms from the past 1–2 years and calculate qualifying income based on your gross earnings. Some programs also allow year-to-date earnings to be included.
SEE 1099‑ONLY LOAN PAYMENT EXAMPLES
Your monthly payment depends on the loan amount, rate, and term. The income used for qualification comes directly from your 1099 earnings instead of tax returns.
UNDERSTAND 1099‑ONLY LOAN RATES
Rates vary based on your credit score, down payment, income stability, and financial profile. Stronger credit and larger reserves typically lead to better pricing.
SEE HOW 1099‑ONLY LOAN RATES ARE SET
Lenders evaluate your 1099 history, year-to-date income, credit profile, and assets. Consistent earnings and strong credit often lead to more favorable terms.
1099‑ONLY LOAN CREDIT REQUIREMENTS
Most programs require strong credit, consistent 1099 income, and a stable work history. Requirements vary by lender.
CHECK 1099‑ONLY LOAN CREDIT REQUIREMENTS
1099‑ONLY LOAN FEES AND COSTS
Costs may include standard closing fees, lender charges, and income verification requirements. Fees vary based on the loan structure and property type.
REVIEW 1099‑ONLY LOAN FEES
1099‑ONLY LOANS VS. BANK STATEMENT LOANS
1099‑only loans use your 1099 earnings, while bank statement loans use business deposits. Each option fits different self-employed borrower profiles.
COMPARE 1099‑ONLY VS. BANK STATEMENT LOANS
COMMON USES FOR 1099‑ONLY LOANS
These loans are ideal for contractors, freelancers, gig‑economy workers, and anyone with strong 1099 income but limited traditional documentation.
EXPLORE 1099‑ONLY LOAN USES
TAX CONSIDERATIONS
Mortgage interest and property taxes may be tax-deductible depending on your situation and current tax laws. Benefits vary based on income and property details.
LEARN 1099‑ONLY LOAN TAX RULES
HOW TO APPLY FOR A 1099‑ONLY LOAN
You’ll provide 1099 forms, year-to-date income documentation, credit history, and asset statements. 1099‑only loans offer flexible qualification for independent contractors.
START YOUR 1099‑ONLY LOAN REQUEST