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How to Qualify for Home Loan with 1099 Income?

Loan Trust offers a loan solution with a mortgage loan 1099 income program for borrowers who can’t or don’t want to show tax returns or W2’s.  Click here to get a rate quote.

What is a 1099 Mortgage Loan?

A home loan 1099 income program is popular among self employed borrowers and independent contractors.  This loan program allows you to use your 1099 statements basically meaning you will not have to provide the standard financial documents such as tax returns, W-2’s or paystubs, but you can use your 1099 income statements you receive at the end of the year.  To learn more about the 1099 form click here.

What are the qualifying guidelines for the mortgage loan 1099 income program?

1099 Income Loan

  
  • Loan Amount up to $3 Million
  • Debt to Income up to 55%
  • 85% CLTV 
  • Cash Out Available
  • FICO as low as 620
  • Completed FNMA form 1005 for 2-Year History with Same Employer/Company
  • Super Prime & Prime Programs
  • Cryptocurrencies accepted for reserves, down payments, and closing costs