Loan Expert Team

Flexible 1099 Loans for Self-Employed Homebuyers

Get a mortgage that understands your 1099 income. No tax returns needed. Flexible options, fast approvals, and competitive rates for self-employed professionals.

I need a Bank Statement loan

I need a 1099 home loan.

I need a DSCR home loan.

I need a Bridge Loan.

I need an ITIN home loan.

I need an Asset Depletion loan.

I need a Condotel loan.

Your Path to Homeownership as a Freelancer or Independent Contractor

Are you a freelancer, independent contractor, or gig worker who receives income through 1099 forms? If so, securing a traditional mortgage can be a frustrating experience. Lenders often rely heavily on W-2 income and tax returns, making it difficult to demonstrate your financial stability and qualify for a home loan. But don't worry – Ameritrust Mortgage understands your unique needs.

Our 1099 income loans are specifically designed to empower you with a streamlined mortgage process, flexible underwriting, and competitive rates. We recognize the value of your 1099 income and offer a variety of mortgage solutions tailored to your financial circumstances.

What are 1099 Loans?

1099 loans, also known as 1099 mortgage loans or freelancer mortgages, are a type of non-qualified mortgage (non-QM loan) designed for individuals who receive their income through 1099 forms rather than traditional W-2s. These loans offer an alternative path to homeownership for those with less conventional income sources.
Unlike traditional mortgages that heavily rely on tax returns, 1099 loans primarily use your 1099 forms and bank statements to verify your income and assess your ability to repay the loan. This makes them a more accessible option for freelancers, independent contractors, and gig workers who may have fluctuating income or write off a significant portion of their income as business expenses.

Client Satisfaction Rate

Years of Industry Experience

Faster Loan Approvals

$0+

Billion in Funded Loans

Who Qualifies for a 1099 Loan?

1099 loans are ideal for various borrowers, including:

Freelancers: Writers, designers, photographers, consultants, and other professionals who work independently.
Independent Contractors: Individuals who provide services to businesses on a contract basis.
Gig Workers: Those who work in the gig economy, such as rideshare drivers, delivery drivers, or task-based workers.
Small Business Owners: Entrepreneurs and small business owners who receive 1099 income.
Anyone with 1099 Income: If you receive a significant portion of your income through 1099 forms, you may be eligible for a 1099 loan.

Why Choose Ameritrust Mortgage for Your 1099 Loan?

Ameritrust Mortgage stands out as a premier lender for 1099 income loans for several reasons:

Expertise in Non-QM Lending

Our experienced team specializes in non-QM loans, including 1099 income loans.

Streamlined Application Process

Our online application and dedicated team ensure a smooth and efficient experience.

Fast Closing Times

We understand the importance of timely approvals and work diligently to expedite your loan closing.

Transparent Communication

We believe in open and honest communication throughout the loan process.

Customer-Focused Approach

Your satisfaction is our top priority.

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The Ameritrust Mortgage Benefit:

Benefits of 1099 Loans

1099 loans offer several key advantages:

Flexible Income Verification:

o Utilizes your 1099s and bank statements instead of traditional tax returns.

Lower Documentation Requirements:

o Requires less paperwork than traditional mortgages.

Competitive Rates and Terms:

o Requires less paperwork than traditional mortgages. Offers competitive interest rates and flexible terms for qualified borrowers.

Faster Approval Process:

o Requires less paperwork than traditional mortgages. Streamlined underwriting for quicker loan decisions.

Diverse Property Options:

o Available for primary residences, second homes, and investment properties.

Unlimited Cash-Out Refinance:

o Access the equity in your home without limitations.

Ameritrust Mortgage 1099 Loan Programs

At Ameritrust Mortgage, we offer a variety of 1099 loan programs to cater to your specific financial situation and goals

12-Month 1099 Loans:

o Ideal for borrowers with at least one year of 1099 income history.

24-Month 1099 Loans:

o Provides more flexibility for borrowers with fluctuating income.

1099 Loans with Interest-Only Options:

o Reduce your initial monthly payments for greater cash flow.

1099 Jumbo Loans:

o For high-income earners needing larger loan amounts.

1099 Income Loan Guidelines

o Income Verification: Uses 1 or 2 years of 1099 forms to qualify borrowers.
o Minimum Credit Score: 640
o Maximum Loan Amount: Varies by lender and income.
o Maximum DTI: 50%, ensuring affordability.
o Expense Factor: Automatic 10% deduction for business expenses.
o YTD Earnings: Verification of year-to-date earnings is required.
o YTD Earnings: Verification of year-to-date earnings is required.
o Property Types: Primary residence, second home, and investment properties allowed.
o Loan Term Options: 40-year fixed-rate terms with interest-only options available.
o Additional Documentation: 4506-C form to verify employer-reported income.
o Benefits: Tailored for freelancers and independent contractors with 1099 income, providing flexible underwriting and loan options.