Quick highlights
- Qualify on 1099 income, not tax returns
- 1-2 years of 1099 history typically required
- Expense factor typically 10-20% (lower than bank statement)
- Primary, second, and investment properties
- Up to 90% LTV
- Credit scores from 640+
Best for:
Real estate agents, sales professionals, consultants, contractors, and gig workers whose 1099s show higher income than their tax returns after deductions.
How is this different from a bank statement loan?
1099 loans use your 1099 forms as proof of income, applying a relatively small expense factor (typically 10-20%) rather than the 50% used on personal bank statement loans. For a 1099 earner with low actual expenses, this often qualifies them for a larger loan than a bank statement loan would.
How much history do I need?
Most lenders want one year of 1099 income (with continuity expected), and some prefer two years. The strongest applications show consistent or growing 1099 income year over year.
Ready to see what you qualify for?
Every situation is different. Let's talk through your specific scenario and shop it across our lender network for the best terms.