Get approved using only your 1099 forms. No complex tax returns required.
If you earn a living as an independent contractor, you receive 1099s instead of W-2s. Traditional lenders struggle to process this income without demanding years of massive tax returns and scrutinizing every single deduction on your Schedule C.
As a smart contractor, you likely write off heavy expenses (mileage, home office, equipment) to minimize your tax burden. Traditional banks penalize you for this by deducting all those write-offs from your qualifying income, often leading to a loan denial.
Our 1099 mortgage loan program bypasses this entirely. By relying directly on your 1099 forms and applying a standard expense ratio, we determine your true earning power without complex tax documentation. This is perfect for:
Net Income on Schedule C Tax Return (After Write-Offs):
$45,000
Gross 1099 Income (With a Standard 10% Expense Ratio):
$90,000 Usable Income
Result:
The borrower doubles their purchasing power and avoids providing any tax returns to the underwriter!
Just provide your 1099 forms from the past 1-2 years. No need to dig up massive tax returns or coordinate with your CPA.
Instead of scrutinizing every deduction on your Schedule C, we apply a standardized expense ratio to your gross 1099 income.
Whether you consult independently, drive for Uber, or work as a freelance designer, if you get a 1099, you can use this program.
1099 loans are mainstream alternative products, meaning you still get access to highly competitive interest rates and standard 30-year terms.
You provide your official 1099 forms for the most recent 1 to 2 years.
We apply a standard fixed expense ratio (usually 10% to 50%) to your gross 1099 amount.
We verify that you are currently still operating as an active independent contractor.
*Some exceptions may be available.
If you fall into any of these categories, this non-QM mortgage was built for you.
Breakdowns and walkthroughs by David Sider and Rakesh Jain.
