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1099 Loan     

1099 Income Loans: The Mortgage for Modern Professionals

No Tax Returns. No W2s. Just Your 1099s.

The world of work has changed, but traditional mortgage guidelines haven't. At LoanHouse, we believe that being an independent contractor shouldn't make it harder to buy a home. Our 1099 Income Loan Program is designed specifically for workers who are paid via 1099 and want a simplified path to homeownership.

We qualify you based on your gross earnings, not your net income after taxes.

Why the 1099 Program is a Game Changer

If you are an independent contractor, you likely have significant business expenses that you write off on your taxes. While this is smart for your tax bill, it can "lower" your income in the eyes of a traditional bank.

  • Gross Income Qualification: We use the gross amount shown on your 1099 forms.

  • Simple Documentation: Forget the mountain of paperwork. Your 1099s and a simple year-to-date earnings statement are usually all we need.

  • High Loan Limits: Secure financing for everything from modest starter homes to luxury estates.

  • Primary or Investment: Use this program to buy your dream home or start your rental portfolio.

How 1099 Qualification Works

Unlike traditional loans that look at the "Bottom Line" of your tax return, we use a much more favorable calculation.

Feature 1099 Loan Details
Documentation 1 or 2 years of 1099 forms
Max LTV Up to 90% (only 10% down)
Credit Score Minimum 620
Qualifying Income Gross 1099 earnings (minus a small standard expense factor)
Property Types Single Family, Condos, Townhomes, 2-4 Units

Who is this for?

If you receive a 1099 at the end of the year, this program was built for you:

  • Contract Employees in Tech, Healthcare, or Logistics.

  • Freelance Creatives (Designers, Writers, Developers).

  • Real Estate Agents and Brokers.

  • Consultants and Project Managers.

  • Gig Economy Leaders (Ride-share, delivery, and marketplace pros).

Frequently Asked Questions

Do I need to provide tax returns? No. This is a "tax return-free" loan. We use your 1099s to verify your income, which means your legal tax deductions won’t count against your buying power.

What if I have multiple 1099s from different companies? That’s perfectly fine! We will aggregate all of your 1099 income from the past 1–2 years to create a total qualifying monthly average.

How long do I need to have been a 1099 worker? Generally, we look for a 2-year history in the same line of work. However, if you recently transitioned from a W2 role to a 1099 role in the same industry, we can often find an exception for you.

Is there an expense ratio applied? Yes, we typically apply a standard expense ratio (often around 10–20%) to your gross 1099 income to account for business costs. This is still significantly more favorable than the net income used on tax returns.

Apply in Minutes, Close in Weeks.

Don't let your 1040s dictate your lifestyle. Let your 1099s open the door to your new home.

 

1099 Income Loans | Mortgage for Independent Contractors | Loanhse.com