1099 ONLY Loan
The 1099 ONLY is ideal for self-employed borrowers and independent contractors who receive 1099 income and prefer to qualify only showing the 1099 as opposed to the full Tax Returns.
Program Highlights
- Credit Score: 620+
- Down Payment: 10%+
- Occupancy: Primary Residence, Second Homes (Down Payment 15%+) & Investment Property (Down Payment 15%+)
- 2 months of personal or business bank statements
- Expense Factor: As low as 10%
- Seasoning: 3-month cash-out seasoning permitted for Refinances
- Cashout: Unlimited
- Loan Amounts: Up to $4,000,000.
Eligible Property Types
- Single-Family Residences (SFR)
- 2–4 Unit Properties
- Condominiums
- Planned Unit Developments (PUDs)
