1099 Home Mortgages
Welcome to Capital Home Mortgage, a 1099 Mortgage Lender, dedicated to providing 1099 Self Employed homebuyers and homeowners alternative options to purchase, refinance, or cash out using 1099 Home Loans. Tailored for self-employed individuals, freelancers and independent contractors who earn income through 1099 forms rather than W-2 employment, these loans are popular options in dynamic and diverse economy. 1099 Mortgage Rates are determined by demand from private investors and are typically higher than traditional mortgage rates.
As 1099 Home Mortgage Company, Capital Home Mortgage can guide purchasers through this non-traditional mortgage path, offering individualized solutions. Our extensive experience and dedication to customer service make us a dependable option for Non Qualified Mortgage Loans.
1099 Mortgage Loans
A 1099 Home Loan is for underserved self-employed borrowers who are 1099 workers. Many freelancers, contractors, economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines. These borrowers can use 1099 earning statements in lieu of tax returns to qualify for a mortgage. The 1099 Income loan is an alternative loan solution that helps many self-employed 1099 earners achieve homeownership.
1099 Key Points
- Purchase, Rate & Term, Cash-Out
- Primary, Secondary and Investment
- Minimum Credit 620
- Maximum LTV 90%
- No Tax Returns Required
- No Limit on Total Properties
- Short Term Rentals Allowed
- Vacant Properties Eligible
- Non-Warrantable Condos Allowed
- No Condo Hotels
- Non-Permanent Residents Allowed
- Minimum Loan 100K
- Maximum Loan 3M
Advantages of 1099 Loans
- Alternative Documentation: Ideal for borrowers who don’t qualify under traditional income requirements.
- No Tax Returns Required: Helps those with significant tax deductions that reduce their reported income.
- High Loan Limits: Accommodates California’s high property values, especially in areas like Los Angeles, San Diego, and the Bay Area.
- Investment Property Eligibility: Great for borrowers expanding their real estate portfolios.
- Flexible Qualification: Tailored solutions for freelancers and independent contractors with multiple income streams.
Overview of 1099 Home Loans
- Borrowers Must Provide 1-2 Yrs of 1099 Forms as Proof of Income
- Lenders typically use the gross income on the 1099 to calculate qualifying income.
- Bank Statements: May be required to verify that income shown on 1099 forms is being deposited into personal or business accounts.
- Credit History: A clean credit history with minimal late payments or delinquencies improves qualification chances.
- Reserves: Lenders may require 6-12 months of reserves, especially for higher loan amounts or investment properties.
- Debt-to-Income Ratio (DTI): Calculated based on qualifying income derived from 1099s and bank statements. Flexible DTI ratios are typically offered.
Qualifying of 1099 Home Loans
- Income Calculation: Gross 1099 income, depending on the borrower’s expenses and may require a P&L statement for additional verification.
- Loan Approval: Approval is based on the strength of 1099 income, credit profile, property value, and reserves.
- Debt-to-Income Ratio (DTI): Calculated based on qualifying income derived from 1099s. Flexible DTI ratios are typically offered.
- Loan to Value: Final LTV is determined by property occupancy, property type and credit score.
Who Should Consider 1099 Home Loans
- Independent Contractors: Professionals like realtors, consultants, designers, and artists.
- Gig Workers: Drivers for rideshare platforms, delivery services, or other app-based businesses.
- Self-Employed Borrowers: Entrepreneurs and small business owners who file 1099s.
- High-Income Professionals with Write-Offs: Individuals with high gross income but significant deductions on tax returns.
1099 Mortgage Rates
Interests rates are calculated using several factors. Depending on the type of mortgage you are looking at and the impact of the items below can determine the interest rates.
- Demand for Mortgage Securities
- Property Securing the Mortgage
- Occupancy of the Property
- Loan to Value of the Property
- Borrower’s Credit Worthiness
Why Homeowners Choose Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Competitive Rates & Fees
Direct Lender with Complete Mortgage Programs
Exceptional Service
Customer Support Application to Final Payment
Capital Home Mortgage Company Reviews
Home Mortgage Programs
Home Purchase loans
Looking to Purchase a Home?
Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
- Primary, 2nd Home, Investment
- Competitive Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Renovation Home Loans
Looking to Rehab a Home?
Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not a renovation loan? Purchase the Perfect Home and make it your own.
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
FHA Home loans
Great 1st Time Homebuyers
FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
va Home Loans
100% Financing for Vets
Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Conventional Home loans
Flexibility for Homebuyers
Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a loan officer.
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
Jumbo Home Loans
Non-Conforming Home Loans
Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today.
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
USDA Home loans
100% Rural Home Loans
USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Native american Home Loans
Hud 184 Home Loans
HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Manufactured Home loans
Great Alternative Housing
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Reverse Mortgage Loans
Your Home at Work
Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Non QM Home loans
Making Mortgages Possible
Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
One Time Close Home Loans
Build Your Dream Home
Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Refinance Mortgage loans
Rate & Term Refinance
Refinancing can be a hard decision and may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor for details.
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Cashout Mortgage Loans
Equity Mortgage Loans
Cash-Out Mortgage Loans make use of the equity in your home. Refinancing may result in finance charges that may be higher over the life of the loan. Consult with your loan advisor.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education
State Specific Mortgage Information
1. What Is a 1099 Home Loan and How Does It Work?
A 1099 home loan is a mortgage designed for self-employed borrowers who receive 1099 income instead of W-2 wages. Instead of traditional tax returns or pay stubs, lenders verify income using your 1099 forms, bank statements, or profit-and-loss statements to qualify you based on actual earnings and cash flow.
2. Who Qualifies for a 1099 Mortgage Loan Program?
You may qualify for a 1099 mortgage loan if you are an independent contractor, freelancer, or business owner who earns income reported on IRS Form 1099. Lenders typically require a 2-year history of consistent 1099 income, solid credit, and sufficient bank reserves to demonstrate repayment ability.
3. Can I Get a Home Loan Without Tax Returns Using My 1099 Income?
Yes. Many non-QM and alternative loan programs allow self-employed borrowers to qualify without tax returns. Instead, lenders evaluate your 1099 income, business deposits, or bank statements to calculate qualifying income, making it easier to get approved when traditional underwriting doesn’t fit your situation.
4. What Documents Are Needed for a 1099 Home Loan?
Typical documentation includes recent 1099 forms (from the past 1–2 years), year-to-date profit-and-loss statements, bank statements, photo ID, and credit report. Some lenders may also request business licenses or invoices to verify consistent contract income.
5. Are 1099 Home Loans Available for Both Purchases and Refinances?
Yes. 1099 home loans can be used to purchase a new primary home, second home, or investment property. They are also available for refinancing an existing mortgage—whether to lower your rate, tap equity, or move from a traditional loan to a self-employed mortgage solution.
6. What Credit Score Do I Need to Qualify for a 1099 Mortgage Loan?
Most lenders require a minimum credit score of 620–660 for 1099 loan programs. However, higher scores may help you secure better rates or lower down payments. Capital Home Mortgage reviews your entire financial profile, not just your credit score, to find the best fit.
7. How Can Capital Home Mortgage Help Self-Employed Borrowers Qualify?
Capital Home Mortgage specializes in helping 1099 earners, independent contractors, and small business owners qualify for flexible home financing. Our team uses alternative documentation methods, like 1099 forms, bank statements, and P&L verification, to help you get approved quickly and confidently, nationwide.
