The 1099 Mortgage is perfect for:
Independent contractors
Gig workers
Freelancers
Consultants
Commission-based workers
Self-employed individuals paid through 1099s
Anyone whose taxable income appears low due to write-offs can benefit.
Required documentation is simple and may include:
Most recent 1–2 years of 1099 forms
2–3 months of personal or business bank statements
Proof of employment or contract status
Letter from employer or contracting company (sometimes)
No W-2s, pay stubs, or tax returns required.
Lenders typically use:
The total 1099 income from the last 12–24 months
An income factor (often 80–100% of the 1099 total)
Bank statement deposits to verify consistency
This results in a higher qualifying income than tax-return-based underwriting.
1099 Mortgage loans, also known as self-employed mortgages, allow you to ensure a mortgage without the documentation you usually use to verify your income, such as W-2s and tax returns. Instead, workers qualify based upon the 1-2 years of 1099's.
Entrepreneurs, freelancers, small business owners, and self-employed borrowers get the mortgage you want at the low rates you deserve.
The short answer is yes. But it's a bit more complex than just a simple yes. Don't worry, though, because you'll understand how to get your mortgage after this.
The first step to getting mortgages for 1099 employees is prequalification. It is as straightforward as phoning your bank or completing an online questionnaire with the basic details on your Form 1099 income report, debt, and assets. This information should give you a quick estimate of the amount you can afford to borrow to purchase your home.
