WHAT IS A 1099 LOAN?
The 1099 loan is designed for independent contractors, freelancers, and gig workers who earn income reported on a 1099 form rather than a W-2. Perfect for self-employed borrowers who need an alternative to traditional qualification.
1099
LOAN OVERVIEW:
The 1099 loan program is built for self-employed individuals, independent contractors, and gig workers who receive income through 1099 forms rather than traditional W-2 employment.
Borrowers can qualify using just one year of 1099 income, with no tax returns or paystubs required. This makes it an excellent option for those with non-traditional income streams, such as real estate agents, consultants, creatives, or delivery platform workers.
With flexible documentation and higher allowable CLTV, the 1099 loan empowers borrowers who may not meet standard income documentation requirements — while still offering competitive terms, faster approvals, and a clear path to homeownership.
PROGRAM BENEFITS
- Use 1099 income only — no W-2s or tax returns required
- Ideal for independent contractors, self-employed, and gig workers
- Only 1 year of 1099s needed for income verification
- Up to 85% CLTV for qualified borrowers
- Gift funds allowed toward down payment and closing costs
- Available for purchase and refinance
REQUIREMENTS
- No score or minimum FICO 620, depending on program
- Must have 1-year history with the same employer or contractor
- Provide proof of current freelance or contract work
- 85% max CLTV, including all liens
- Some reserves and additional documentation may be required
- Borrower must demonstrate consistent income from 1099 work
LOAN OPTIONS:
For freelancers, rideshare drivers, consultants, and other self-employed workers, 1099 loans offer a flexible solution that recognizes the realities of today’s income structures.
Rather than requiring tax returns or W-2s, borrowers can qualify using just one year of 1099 forms — making it much easier to secure financing with variable or project-based income.
Whether you're looking to purchase your first home or refinance an existing one, this program is ideal for independent earners who want to take advantage of homeownership without the traditional income verification hurdles.
How Do You Qualify for a 1099 Loan?
If you’re a self-employed contractor or gig worker, call our team at (213) 810-2091 to find out if you qualify based on your 1099 income.
To get started, you’ll need to provide your most recent 1099 form and proof of consistent income from the same client or contractor over the past year. No W-2s or tax returns are required — just straightforward income documentation tied to your independent work.
This loan is a great fit for freelancers, rideshare drivers, and other independent earners who want to qualify based on how they actually get paid.
HOW LOW WILL YOUR PAYMENT BE?