1099 Only Loans
Get prequalified in minutes! Low rates. Simplified process.
Our Simple Access® Non-QM 1099 Only loan is an excellent solution for those that receive compensation in the form of commission or independent contractor basis and receive an IRS form 1099 at year-end. Qualification is determined solely on the last two years of your 1099 forms.
- Loan amounts to $3.5M
- Fixed and adjustable rate mortgages
- No tax returns or bank statements required
- Mortgage Insurance not required
- All occupancy types (Primary residence, second home or investment property)
- Must provide most recent 1 or 2 years of 1099’s
- Funds can be in checking, savings, money market accounts, marketable securities, or retirement accounts
- Credit scores down to 620 (Subject to loan amount and loan-to-value (LTV) restrictions)
- Debt-to-income ratio up to 55 allowed
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We’re here to answer any question you may have about 1099 Only Loans or any of our other mortgage programs.