Use Your 1099 Income to Qualify for a Mortgage

If you’re self-employed or an independent contractor, NASB may help you qualify using 12 months of 1099-NEC income from the same employer — with 100% of your 1099 income considered for qualification.

No tax returns, W-2s, or pay stubs required for this program.
May qualify with 12 months of 1099-NEC income with the same employer.¹
100% of 1099 income considered for eligible borrowers.¹
Flexible Underwriting from an experienced NASB team.

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See if you qualify

A smart mortgage option for borrowers with consistent 1099 income

A 1099 mortgage loan may be a strong fit if your income comes from 1099-NEC earnings and you’ve had difficulty qualifying through conventional mortgage guidelines. NASB’s 1099 program is designed for eligible borrowers whose income doesn’t fit the typical W-2 model.

Let's get started!

Answer a few easy questions to get your personalized recommendations and custom rate quote from one of our loan experts.

What type of mortgage loan are you looking for?

Refinance

Mortgage purchase

This program may be a fit if you are a:

Self-employed borrower with consistent 1099-NEC income
Independent contractor
Entrepreneur

Freelancer or consultant
Gig worker or commission-based earner
1099 borrower with complex income

If traditional mortgage underwriting doesn’t reflect your real earning power, a 1099 mortgage loan may provide a more flexible path.

How 1099 loans work

Instead of using tax returns, W-2s, or pay stubs to verify income, NASB may review your 1099-NEC earnings to help determine qualifying income. This can help eligible borrowers show income in a way that better fits their work situation.

3-Step Process

Step 1 — Tell us about your goals
Answer a few quick questions about whether you’re looking to purchase or refinance, and share a few basic qualification details.

Step 2 — We review your 1099 income
NASB may review 12 months of 1099-NEC income from the same employer to evaluate qualifying income, rather than relying on traditional tax documentation.

Step 3 — Get personalized loan options
A NASB loan expert can review your situation, walk you through your options, and provide a custom rate quote.

Qualification snapshot

Here are some of the key guidelines shown on NASB’s current 1099 loan pages. Your loan officer can help explain what may work best for your situation.

Documentation: May qualify with 12 months of 1099-NEC income from the same employer.
Income review: 100% of 1099 income considered for qualifying.
Minimum credit score: 700
Down payment: 20% down; 10% down option available with qualifying requirements.²
Loan amount: $175,000 minimum.¹
Underwriting: Flexible underwriting from NASB’s in-house team.

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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.”

1099 Mortgage Loan FAQs

What property types and occupancies are eligible?

Availability of NASB’s 1099 program varies by property type and location; your loan officer will confirm eligibility for a primary, second home, or investment property. Across the market, non-QM programs often allow multiple occupancies with different LTVs and pricing.

How long does it take to close?

NASB’s timeline is comparable to standard mortgages—typically around 30 days, depending on file complexity and document turnaround. Generally, organized documentation helps streamline non-QM underwriting.

Can I use a 1099 loan for purchase and refinance?

NASB offers 1099 loans for both home purchases and refinances, subject to program guidelines. Typically, non-QM programs support purchase, rate-and-term refinances, and (with sufficient equity) cash-out.

Are interest rates higher for 1099 loans?

NASB’s 1099 loan rates are typically higher than those of standard conventional mortgages but remain competitive in the non-QM market. Generally, alternative documentation programs price for risk and complexity, so rates tend to be higher than those of agency loans.

What down payment is required?

NASB typically requires at least 20% down for 1099 loans, with program-matrix flexibility in select scenarios. In the market, non-QM down payments usually range from 10% to 30%, depending on risk layers and property type.

What credit score do I need?

NASB generally requires a minimum credit score of 700 for its 1099 Mortgage Loan. Across non-QM programs, higher scores typically lead to better pricing and terms.

Do I need to provide tax returns?

NASB’s 1099 loan verifies income using 1099-NEC statements rather than full tax returns. Across the market, non-QM programs use alternative documentation to assess the ability to repay.

What documents are required for NASB’s 1099 loan?

NASB typically requires the last 12 months of 1099-NEC and year-to-date income documentation for 1099 qualification. Lenders also review credit history, recent bank statements, and business activity to confirm stability.

How is 1099 income used to qualify?

NASB reviews the last 12 months of 1099-NEC income (plus YTD) to determine qualifying earnings for our 1099 loan. In general, lenders evaluate consistent 1099 income and may consider business tenure, DTI, and reserves when making approval decisions.

Is NASB’s 1099 loan a Non-QM mortgage?

NASB’s 1099 Mortgage Loan is a non-QM program that uses alternative documentation to verify income and ability to repay. Broadly, 1099 loans are non-QM because they don’t meet agency full-doc standards.

Who is a 1099 loan best suited for?

NASB’s 1099 loan is best suited for self-employed borrowers—contractors, freelancers, gig workers, realtors—whose tax returns don’t reflect their actual income. Typically, these programs help borrowers with legitimate write-offs qualify based on documented 1099 earnings.

What is a 1099 mortgage loan?

At NASB, a 1099 mortgage loan lets you qualify using your 1099-NEC earnings statements instead of traditional tax returns or W-2s. Generally, 1099 loans are designed for independent contractors, freelancers, and self-employed borrowers with non-W-2 income.

See if you qualify

Not sure a 1099 loan is the right fit?

NASB also offers other non-QM mortgage solutions that may better match your financial profile, including Bank Statement, DSCR, Asset Depletion, Jumbo, and Credit Event loan options. Speak with a NASB loan officer to explore which product may work best for your situation

Compare other flexible mortgage options from NASB.

Loan Type³	Who is it For?	Minimum Credit Score	Minimum Loan Amount	Minimum Down Payment
Bank Statement Loan Uses bank statements (not tax docs) to verify income.	Self‑employed borrowers, business owners, or independent contractors	700	$175,000	10% with mortgage insurance²
DSCR Loan Qualifies based on rental property cash flow instead of income.	Real estate investors	700	$175,000	20%
Asset Depletion Loan Uses assets (not income) to qualify for a mortgage.	High-net-worth borrowers or retirees using liquid assets to qualify	700	$175,000	20%²
Jumbo Loan For higher loan amounts or loans that don't meet standard guidelines.	Borrowers with home purchases above the conforming limit	720	$805,501	20%
Credit Event Loan Looks at complete financial picture to secure a loan after a credit setback.	Individuals looking to secure a loan after a one-time hardship such as bankruptcy or foreclosure	620	$175,000	30%

See if you qualify

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.

²10% minimum down payment with no mortgage insurance required requires a minimum 740 credit score, no prior bankruptcy, and a 12-month housing history. Otherwise, borrowers need a minimum credit score of 700 and a 10% down payment with approved mortgage insurance.

³Additional eligibility criteria for each loan product may exist. Visit nasb.com for more information on each loan product type. Loans are subject to underwriting and eligibility criteria, and other factors. Your loan officer will provide you with more information regarding a specific loan and what may work best for your situation. The DSCR Loan and Credit Event Home Loan products are not available in New York, the Chicago or Baltimore metropolitan areas, and not in all locations or for all property types. Contact a NASB Loan Officer for more details on product eligibility, specific areas, and/or zip codes excluded.