1099 Mortgage Lender for Independent Contractors and Self‑Employed Borrowers

North American Savings Bank (NASB) is a 1099 mortgage lender serving independent contractors, freelancers, and self‑employed borrowers who earn income outside traditional W‑2 employment. Through flexible non‑QM lending options, NASB helps qualified borrowers use 1099 income and alternative documentation to pursue homeownership.



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No obligation — talk with a non‑QM loan specialist about your options.

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Key Features

Use 1099-NEC statement instead of tax documents

700 minimum credit score

Great option for self-employed borrowers



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What is a 1099 mortgage?

A 1099 mortgage is designed for borrowers who receive income reported on IRS Form 1099 rather than a W‑2. These loans allow lenders to evaluate non‑traditional income sources, which is especially helpful for contractors and business owners whose tax returns may not fully reflect cash flow. 1099 mortgages are part of NASB’s broader non‑QM lending approach for borrowers with non‑traditional income.

Who 1099 mortgage loans are best for

1099 mortgage loans may be a good fit for:
  • Independent contractors and freelancers
  • Consultants and commission‑based professionals
  • Gig‑economy workers
  • Self‑employed borrowers with variable income
  • Borrowers with strong earnings but significant tax write‑offs

How NASB underwrites 1099 mortgage loans

As a 1099 mortgage lender, NASB evaluates:
  • 1099 income documentation
  • Consistent earnings history
  • Overall financial strength, reserves, and credit profile
This approach allows qualified borrowers to move forward even when traditional W‑2 income requirements don’t apply.

1099 loans within NASB’s non‑QM approach

1099 mortgage loans are part of NASB’s broader non‑QM lending strategy. Depending on your situation, other flexible options may include:

Why borrowers choose NASB as a 1099 mortgage lender

Borrowers often choose NASB because we offer:
  • Bank‑backed stability with non-QM flexibility
  • Experience with complex and variable income profiles
  • Multiple documentation options under one roof
  • Relationship‑driven loan specialists

Get started

If you earn income as an independent contractor or receive 1099s, a 1099 mortgage may be the right option. Talk with a NASB loan specialist to review your situation and explore available paths forward.
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1099 Mortgage Loan FAQs

Yes. North American Savings Bank (NASB) is a 1099 mortgage lender offering non‑QM loan options for independent contractors, freelancers, and self‑employed borrowers who receive income on IRS Form 1099. These programs are designed for borrowers whose income does not fit traditional W‑2 guidelines and may use alternative documentation as part of the qualification process.
NASB’s 1099 loan qualifies income using 1099-NEC forms, whereas our Bank Statement Loan uses 12–24 months of deposits and applies an expense factor. Typically, 1099 loans rely on earnings statements, while bank statement loans rely on cash flow from deposits.
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.
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.
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.
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.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.



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.