1099 Program

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1099 Program

1099 Program

This is a great loan for a self-employed borrower who is a 1099 earner who cannot qualify for a full doc mortgage loan. Even better is that we will look at the most recent 1099 statements from one to two years ago!

  • Up to 85% LTV with a 680 FICO
  • No Tax Returns Required
  • Provide the last one or two years of 1099’s with a YTD earnings statement,
    or, YTD bank statements
  • Purchase, rate and term and cash out
  • Borrower’s must be self-employed (1099) for last two years with the
    same company
  • Owner occupied, second homes, and investment

Our 1099 income loan option is for underserved self-employed borrowers who are 1099 workers. Many freelancers, contractors, gig economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines. These underserved borrowers can use 1099 earning statements in lieu of tax returns to qualify for a mortgage. Our 1099 income loan is an alternative loan solution that helps many self-employed 1099 earners achieve homeownership.

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