1099 Mortgage

Mortgage options refer to the various choices available to homebuyers when selecting a loan to finance their property purchase.

1099 Mortgage

Many traditional home loans, such as Conventional, FHA, VA, Jumbo, and USDA loans, poorly serve applicants who earn their income through 1099 wages. On a conventional home loan, the lender is restricted to using only the taxable portion of the applicant's salary for qualification purposes.

What is a 1099 Mortgage?

1099 Mortgage loans, also known as self-employed mortgages, allow you to ensure a mortgage without the documentation you usually use to verify your income, such as W-2s and tax returns. Instead, workers qualify based upon the 1-2 years of 1099's.

Entrepreneurs, freelancers, small business owners, and self-employed borrowers get the mortgage you want at the low rates you deserve.

Can 1099 Workers Qualify for Mortgages?

The short answer is yes. But it's a bit more complex than just a simple yes. Don't worry, though, because you'll understand how to get your mortgage after this.

The first step to getting mortgages for 1099 employees is prequalification. It is as straightforward as phoning your bank or completing an online questionnaire with the basic details on your Form 1099 income report, debt, and assets. This information should give you a quick estimate of the amount you can afford to borrow to purchase your home.

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2704 Rew Circle Ste 105A, 
Ocoee Fl 34761

Otown Mortgage Company, Inc.

25+ years of experience and dedicated service have allowed us to play a crucial role in turning home aspirations into reality, always with a keen eye on keeping it within our customers' financial reach.
321-234-1041info@otownmortgage.com
2704 Rew Circle Ste 105A,
Ocoee Fl 34761
Company NMLS: 2675198
NMLS Consumer Access
Disclosure:
The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans may be arranged through third party providers.
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