1099 Loan

Overview

A 1099 loan lets independent contractors, freelancers and gig workers qualify using their 1099 forms instead of full tax returns, so business write-offs don't shrink the income you can use.

Ideal For

Independent contractors, consultants, real estate agents and gig workers paid on a 1099.

Program Highlights

• ✓Income documented with the last year of 1099 forms rather than full tax returns
• ✓Up to 85% CLTV; minimum 620 FICO, with options for borrowers without a score
• ✓1-year history with the same payer required
• ✓Gift funds allowed