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1099 Mortgage Loan

A 1099 income loan allows self-employed and contract workers to get a mortgage loan who can't qualify for a conventional mortgage.



Call us 855-921-4921 

Key Features

680 minimum credit score

Great option for self-employed borrowers

Use 1099 statement instead of tax documents

A home loan solution for self-employed borrowers.

A 1009 income loan is a mortgage solution for self-employed and contract workers who have trouble qualifying for a conventional loan. Borrowers can use their 1099 earning statements to show work income instead of tax documents. 

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1099 Mortgage Loan Requirements Include:


  • The last six months of 1099 income, less if 1099 income is from most recent employer.
  • Documentation of year-to-date income
  • 680 minimum credit score
  • Minimum 15% down with mortgage insurance approval
 



1009 Mortgage Loan FAQs

A 1099 income loan is for self-employed or independent contract workers who have difficulty qualifying for a conventional mortgage loan. Lenders look at income from a 1099 instead of tax returns.
  • The last six months of 1099 income, less if 1099 income is from most recent employer
  • Documentation of year-to-date income
  • 680 minimum credit score
A 1099 loan is a good mortgage loan option for those that are self-employed, freelancers, contractors, recently switched from W2 to 1099; anyone who files taxes using a W-9 and cannot qualify under Agency guidelines.
Minimum 10% down with mortgage insurance approval.


What Our Customers Say
Philip G., August 14, 2022
★★★★★ (5)

"NASB provides the small business owner and the self-employed means to qualify for many types of mortgages. All the staff in contact with me are extremely helpful and update me on pertinent information I need to know throughout the mortgage process."

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100,000 home loan customers since 2010

Based on lender data

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In the last decade based on lender data

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Based on 544 NASB closed loan customer surveys from 12/1/2021 to 7/27/2022

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*According to Bain and Company, the source of the Net Promotor Score (‘NPS’) system, a score of 50 is excellent, and anything above 80 is world-class.