# Non-QM Loans

Self Employed 1099 Mortgage

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.

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    Up to
    90%
    LTV - Purchase
    90%
    LTV - Rate & Term
    90%
    LTV - CASH OUT
    $150K - $5M
    Price Range

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    # Non-QM Loans

    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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    Testimonials

    "Josh Settersten, was AMAZING to work with. Really really good at what he does. Professional, trustworthy, good listener and tries to get you the best deal out there. I learned so much about getting a mortgage from him. He delivered on all fronts. I am glad I had him in my co
    "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!"
    "I can not say enough great things about Brandon Wunder! Our loan was complicated to say the least, and Brandon and his team were there with me every step of the way! With every problem he communicated and found a way to solve them. I was so nervous about this process and Br
    "Groves Capital is the BEST!! Before purchasing my home, I spoke with several brokers and it was such a hassle. I mean seriously, the initial broker I was working with made me want to give up on buying a house entirely.. And then Groves Capital came along! This dream team rea
    "Great company and an awesome team to make it happen an easy and smooth process thanks guys."
    "I had the great pleasure of working with Josh. Not only was he super accommodating but he helped me every step of the way! For me personally, this was the first time I ever bought a home and I can certainly say that without Josh it would not have been as smooth! Thank you ag
    "June An is the best! Super attentive, responds quickly, and is always there for you every step of the way. I’ve used him for both second home loan, primary home refi, and heloc loans and every time has been a wonderful experience. He acquired great rates, handled all of my q

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    States We Lend In

    Looking for lending in a state not listed? We do lend in other states on a case-by-case scenario. Give us a call to see what we can do for you.

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