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1099 Mortgage Loans

Specialized Financing for Self-Employed Borrowers

What are 1099 Loans?

1099 Mortgage Loans are a type of home loan that is designed for self-employed borrowers who have 1099 income. 1099 income is the income that is reported on Form 1099, which is used by the IRS to track payments made to sole proprietors and independent contractor as proof of income. This type of loan is specifically designed to provide greater flexibility and to accommodate those who may not have the traditional income documentation required for other types of mortgage programs.

Benefits of 1099 Loans

Can be used to purchase a new home or refinance an existing home
Available on primary residences, second homes and investment properties
You can qualify for a mortgage without having to provide tax returns, which can be complicated or unfavorable for some self-employed borrowers
You can use your gross income instead of your net income to qualify for a loan, which can increase your borrowing power and help you afford a larger or better home
Larger (Jumbo) loan amounts allowed
You can access flexible loan options
Up to 40 year fixed-rate and adjustable-rate terms
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