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.



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1099MortgageLoan

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 1099 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 10% down with mortgage insurance approval
  • Minimum loan amount of $175,000 required to apply*

 


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.

A minimum loan amount of $175,000 is required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for details on the excluded areas and/or zip codes.



Video - How to Get a Home Loan if You're Self-Employed

Watch this video to find out the two ways you can get a mortgage loan if you're self-employed without W2s or pay stubs.


What Our Customers Say
Karina P., November 8, 2023
★★★★★ (5)

"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!"

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*Minimum loan amount of $175,000 required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded.