Who qualifies for a 1099-only mortgage?

Independent contractors and 1099 earners who can show a stable 1–2 year history of 1099 income without forcing a full Schedule C bank-statement analysis. Common for real estate agents, consultants, and gig professionals with clean 1099s.

Is 1099-only easier than bank statement?

Sometimes — if your 1099s are strong and consistent. If deposits tell a better story than the 1099 total, bank statement may qualify for a larger loan. We run both when the numbers are close.

Non-QM & Alternative Doc

Alt-Doc — Self-Employed

1099-Only Income

Name: Elite Fundings — California Mortgage Team
Address: 552 E Badillo St, Covina, CA, 91723, US
Telephone: (626) 833-7449
Price range: $$

Qualify on 1–2 years of 1099s — no tax returns required. Ideal for independent contractors.

Available throughout Southern California through Francisco Williams, CCIM, NMLS #1858674.

Apply for this program (626) 833-7449

660

Min FICO

90%

Max LTV

1099

Docs

Ideal borrower

1099 earners (realtors, consultants, gig workers) whose tax returns understate income.

Program highlights

1 or 2 years of 1099s accepted
No tax returns
Expense factor applied to gross 1099 income

Typical uses

Independent contractor home purchase

Frequently asked questions

Who qualifies for a 1099-only mortgage?: Independent contractors and 1099 earners who can show a stable 1–2 year history of 1099 income without forcing a full Schedule C bank-statement analysis. Common for real estate agents, consultants, and gig professionals with clean 1099s.
Is 1099-only easier than bank statement?: Sometimes — if your 1099s are strong and consistent. If deposits tell a better story than the 1099 total, bank statement may qualify for a larger loan. We run both when the numbers are close.

Program details shown are representative guidelines and subject to individual lender overlays and CFPB / agency requirements. Rates shown are illustrative and subject to change without notice. Actual rate, APR, and terms will depend on creditworthiness, loan-to-value, property type, occupancy, loan amount, loan program, and other factors. Not all applicants will qualify.