1099 Mortgage Loan
A 1099 income loan allows self-employed and contract workers with non-traditional income to get a mortgage loan who can't qualify for a conventional mortgage.
A home loan solution for self-employed borrowers.
A 1099 income loan is a mortgage solution for self-employed and contract workers who have trouble qualifying for a conventional loan. Borrowers can use their 1099 earning statements to show work income instead of tax documents.
Our 1099 mortgage loan can be an excellent option for:
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What type of mortgage loan are you looking for?
1099 Mortgage Loan Requirements Include:
- The last six months of 1099 income, less if 1099 income is from most recent employer.
- Documentation of year-to-date income
- 680 minimum credit score
- Minimum 10% down with mortgage insurance approval
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Minimum loan amount of $175,000 required to apply*
1009 Mortgage Loan FAQs
What is a 1099 loan?
A 1099 income loan is for self-employed or independent contract workers who have difficulty qualifying for a conventional mortgage loan. Lenders look at income from a 1099 instead of tax returns.
What are the requirements of a 1099 loan?
- The last six months of 1099 income, less if 1099 income is from most recent employer
- Documentation of year-to-date income
- 680 minimum credit score
Who should consider getting a 1099 loan?
A 1099 loan is a good mortgage loan option for those that are self-employed, freelancers, contractors, recently switched from W2 to 1099; anyone who files taxes using a W-9 and cannot qualify under Agency guidelines.
Do I need a down payment with a 1009 loan?
Minimum 10% down with mortgage insurance approval.
What is the minimum required loan amount?
A minimum loan amount of $175,000 is required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for details on the excluded areas and/or zip codes.
Video - How to Get a Home Loan if You're Self-Employed
Watch this video to find out the two ways you can get a mortgage loan if you're self-employed without W2s or pay stubs.
What Our Customers Say
Philip G., August 14, 2022
★★★★★ (5)
"NASB provides the small business owner and the self-employed means to qualify for many types of mortgages. All the staff in contact with me are extremely helpful and update me on pertinent information I need to know throughout the mortgage process."
"NASB provides the small business owner and the self-employed means to qualify for many types of mortgages. All the staff in contact with me are extremely helpful and update me on pertinent information I need to know throughout the mortgage process."
