1099 Income Loan Pricer
Qualify using your 1099 forms instead of full tax returns. Designed for independent contractors, consultants, Uber/Lyft drivers, real estate agents, and anyone who receives 1099 income. When your tax write-offs reduce your reported income, 1099 loans use your gross 1099 earnings for qualification.
1099 Income Loan Facts
- Qualify using 1099 forms instead of full tax returns
- Designed for independent contractors, consultants, and gig workers
- 1 or 2 years of 1099 history accepted depending on lender
- No full tax return analysis - simpler qualification process
- Available for primary residence, second home, or investment property
- Minimum credit score typically 660-680
- Down payment as low as 10% for primary residence
- Great option when tax write-offs reduce reported income on returns
Common questions
How does a 1099 income loan work?+
The lender qualifies you on your gross 1099 earnings (usually 1-2 years of 1099 forms), applying an expense factor commonly around 10%, instead of the net income left on your tax returns after write-offs. You skip full tax-return underwriting entirely. Credit, assets, and appraisal work like any mortgage.
Who qualifies for a 1099 loan?+
Independent contractors, consultants, realtors, drivers, nurses, tradespeople, and gig workers who receive most income on 1099 forms. Most programs want 1-2 years of 1099 history with the same payer or field; some accept a recent W-2-to-1099 transition in the same line of work.
Are 1099 loan rates higher than conventional?+
Typically by roughly 0.5% to 1.25% depending on credit, down payment, and history depth, since these are non-QM programs. The pricer above shows live no-discount-points pricing across many lenders for your actual scenario.
1099 loan vs bank statement loan: which is better for me?+
If your 1099 gross is strong, the 1099 program is simpler (fewer documents, cleaner math). If your income flows through many payers or your deposits exceed your 1099s, bank statement qualifying often produces more income. We price both when it is close.