Is a 1099 Loan Right for You?
A 1099 loan is a specialized mortgage designed for self-employed professionals, freelancers, and independent contractors who may not show a high net income on traditional tax returns. Rather than focusing on the "bottom line" after business deductions, this program allows you to qualify based on your gross 1099 earnings. At Root Mortgage, we understand the modern workforce and believe that your career path shouldn't be a barrier to homeownership. If you have a consistent history of 1099 income and want a financing solution that reflects your true earning potential, this loan provides the flexibility you need.
Benefits of a 1099 Loan
Leverage your gross earnings to qualify for a home that matches your lifestyle without the constraints of traditional underwriting.
Income Maximization
Qualify using your total 1099 income before business expenses and tax write-offs are deducted.
-
No Tax Returns Required
Skip the complex tax transcripts and focus on your year-to-date earnings and previous year's 1099 forms.
-
Simplified Approval
Avoid the common hurdles self-employed borrowers face when using standard conventional or FHA guidelines.
-
Independent Freedom
A perfect fit for gig economy workers and consultants who have stable income but non-traditional documentation.
1099 Loan Eligibility Requirements
These requirements are designed to verify the stability of your self-employment and your ability to manage a mortgage.
