1099 or Bank Statement Home Loan

NASB is a national leader in the non-QM lending space
No tax returns needed
In-house underwriting means a fast and worry-free loan process
$175,000 minimum loan amount*

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★★★★★ (5)
Alexander S, April 5, 2024

“I was pretty much locked in with another lender but wasn't 100% convinced. I did a Google search looking for the best mortgage options for business owners/self-employed, and NASB popped up in several places with solid recommendations. For us, it was like a final Hail Mary to ensure we looked at all possible options. We couldn't be more glad we took that last step and found you. Your speed is second to none, and the service was amazing from start to finish. Needless to say, we are also very happy with the rate that we got.”

★★★★★ (5)
Karina P., November 8, 2023

“My fiance and I are both 1099 employees and first-time homebuyers, so as one can imagine, it was fairly difficult for us to find a lender that did not have obscene fees. NASB helped us find a mortgage loan that was beneficial to us and worked with our situation. From our first phone call to closing day, our loan officer was offering her help and expertise the entire time. If you are self-employed or a 1099 contractor looking to purchase a home, contact NASB. They will do their absolute best to make it happen!”

★★★★★ (5)
Micheal D, March 24, 2024

“My loan officer was very informative, explaining everything I needed to provide them along the way. They made my dream home a reality when others could not.”

★★★★★ (5)
Christina K., March 14, 2024

“The entire process was smooth and efficient. Everyone I've dealt with has been friendly and pleasant to deal with. I wouldn't hesitate to recommend NASB to friends and family.”

Home loan solutions for self-employed workers.

Are you self-employed or own a business and struggling to qualify for a mortgage? A 1099 or Bank Statement Loan from NASB could provide the flexibility you need.

Our 1099 and Bank Statement mortgage loans may be an excellent option for:

Self-employed individuals
Independent Contractors
Consultants
Realtors

Freelancers
Entrepreneurs
Gig economy workers
Truck drivers

Let's get started!

Answer six quick questions to get your personalized recommendations from one of our loan experts.

What type of mortgage loan are you looking for?

Refinance

Mortgage purchase

1099 Mortgage Loan

Our 1099 mortgage loan uses your 1099-NEC statements to verify your income and eligibility, eliminating the need for traditional tax documents.

Requirements include:

The last 12 months of 1099-NEC income
Documentation of year-to-date income
700 minimum credit score
20% minimum down payment
$175,000 minimum loan amount¹

Bank Statement Loan

Our Bank Statement Loan enables business owners to apply for a home loan without relying on net income from tax returns or pay stubs. Instead, we review your non-traditional income over a 12-month period using bank statements.

Requirements include:

Must provide 12 consecutive months of bank statements from the same account
10% down payment required with mortgage insurance
Up to 90% maximum Loan-To-Value (LTV)
700 minimum credit score
50% maximum debt-to-income ratio (DTI)
$1,250,000 maximum loan amount, $175,000 minimum²
Escrow for taxes and insurance is required
A minimum of two years of self-employment or 1099 contract work is required, with exceptions for one year of self-employment in the same field

As seen in:

¹1099 loans require a minimum 700 FICO score, a minimum loan amount of $175,000 (exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas), and a 20% down payment. A lower FICO score or down payment may be available with eligible compensating factors. Must have a two-year history in the same line of work. Contact a NASB Loan Officer for details on the excluded areas and/or zip codes. The product is not available in New York, the Chicago or Baltimore metropolitan areas and not in all locations or for all property types. Loans are subject to underwriting, eligibility criteria, and other factors. Your Loan Officer will provide more information regarding 1099 loans and what may work best for your situation.

²Bank Statement Loans require a minimum $175,000 loan amount (exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas), a minimum credit score of 700, and a 10% down payment with approved mortgage insurance. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded. Not available in New York state, the Chicago or Baltimore metropolitan areas, and not available in all locations or for all property types. Loans subject to underwriting and eligibility criteria, and other factors. Your loan officer will provide you with more information regarding Bank Statement loans and what may work best for your situation.