A 1099 mortgage loan is a type of loan that is reported on IRS Form 1099, which is used to report miscellaneous income. This type of loan is often offered to self-employed individuals or those with a high income, and it is not backed by a government agency such as the Federal Housing Administration (FHA) or the Veterans Administration (VA).

On the other hand, a conventional home loan is a type of mortgage that is not backed by a government agency. Conventional loans are typically offered by banks and other financial institutions, and they are usually the best option for borrowers with good credit and a stable income. These loans typically have lower interest rates and fees than 1099 mortgage loans.

Overall, the choice between a 1099 mortgage loan and a conventional home loan will depend on your individual financial situation and goals. It’s important to carefully compare the terms and rates of each type of loan and consult with a mortgage lender to determine the best option for you.

Up to

90%

LTV - Purchase

90%

LTV - Rate & Term

90%

LTV - CASH OUT

$150K - $5M

Price Range

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1099 Mortgage Loans vs. Conventional Home Loans?

Self-employed borrowers can improve their prospects by increasing their credit score, offering a larger down payment, or paying down debt, among other strategies.

One problem that self-employed individuals run into is that they use business expenses to reduce taxable income, which means less qualifying income for a mortgage.

Conventional loans, FHA loans, and bank statement loans are among the self-employed mortgage options.

It's also possible to take out a joint mortgage or enlist a co-signer.

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"Kristin Howard is absolutely best !!!!!!!!! She stayed on top of my deal until closing date.Cant ask for better service . Thank you Kristin"

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"I am so grateful to Maricris Duke for being so wonderful and helpful during the entire process. As a first time home buyer, I had a lot of questions and doubts but Maricris was there to answer and explain everything to me. Thank you for all the help to get the loan and ass…

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"Josh helped tremendously throughout the entire process of purchasing our first home. He was excellent at communicating and overall exceeded our expectations. I would highly recommend working with Josh!"

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