1099 Income Loans
The simplest way for independent contractors to buy a home. No tax returns, no P&Ls—just your 1099 forms.
1099 Only
We use the gross amount on your 1099 forms to qualify you.
2-Year History
As long as you've been in the same line of work for 2 years, you're eligible.
Competitive Rates
Rates are often lower than Bank Statement programs because the income is verified by a third party.
The Contractor's Path
The Common Problem
"I'm a consultant with very few expenses, but my tax returns show low income because of deductions. Why can't I just use my 1099s?"
Short Answer: You can! 1099 loans are a specific type of Non-QM loan where we look at the gross income reported on your 1099-MISC or 1099-NEC forms, apply a small standard expense factor, and use the rest as qualifying income.
Decision Framework
- Gather your 1099s from the last 2 years.
- Verify you are still working for the same client or in the same field.
- Apply a 10% - 25% expense factor (depending on your field).
- Calculate your new DTI based on that income.
Expert Opinion
1099 loans are the 'middle ground' between Conventional and Bank Statement loans. They are easier to document than bank statements and offer better rates, but they are strictly for those who receive 1099s from their clients.