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1099 / Contractors

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1099/ Contractors

Tailored to meet the unique needs of borrowers who are classified as independent contractors and gig workers by using a 12-month total average to determine qualifying income (10% expense factor added) Making an income determination with 2 years of 1099s plus YTD.

Real Estate Agents and Independent Contractors can qualify with 1099 Income and no Tax Returns! Our 1099 income loan option is for underserved self-employed borrowers who are 1099 workers. Many freelancers, contractors, gig economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines. These underserved borrowers can use 1099 earning statements in lieu of tax returns to qualify for a mortgage. Our 1099 Income loan is an alternative loan solution that helps many self-employed 1099 earners achieve homeownership.

Our 1099 program is designed for independent contractors or commission only borrowers.

  • Qualify using 90% of Gross 1099 Earnings
  • 2 years 1099 plus YTD (Full Documentation)
  • 1-year 1099 plus YTD (Express Documentation)
  • No tax returns required
  • Combine 1099 with other income sources
  • W2, SSI/Pension, Bank Statements, Asset Depletion
  • Minimum 2 years self-employed
  • Less than 2 years considered if in the same line of work
  • Purchase, Rate & Term or Cash out
  • Primary, Second Home or Investment
  • 620 Minimum Credit Score
  • 85% Max LTV

Our Commitment

“Driven by a passion to see our clients succeed, we at Envision Lending go beyond the transaction. We’re committed to providing personalized, hands-on support to navigate the complexities of property lending. Because when you succeed, we succeed.”