1099 loans
For independent contractors and freelancers. Eligible programs may use 1099 earnings to evaluate income instead of tax returns.
Explore 1099 loans →SELF-EMPLOYED
The right documentation tells the story.
Self-employed, freelancing or paid by 1099? John can help you compare traditional financing and alternative ways to document qualifying income.
1099, bank statement and P&L loans.
These options may help eligible borrowers whose tax returns do not fully reflect their current business cash flow. Availability depends on the lender and your scenario.
Bank statement loans
For self-employed borrowers. Eligible programs review personal or business bank deposits and account for business expenses to determine qualifying income.
Explore bank statement loans →P&L loans
For business owners. Eligible programs may use a professionally prepared profit and loss statement to evaluate business income.
Explore p&l loans →What lenders may review.
Alternative documentation still requires a lender to evaluate your ability to repay.
- 1099 loans: A lender may review one or two years of 1099 forms, current earnings and an allowance for business expenses. The documentation period and income calculation vary by program.
- Bank statement loans: Many programs review 12 or 24 months of personal or business bank statements. Eligible deposits, transfers and business expenses are evaluated; total deposits are not automatically qualifying income.
- P&L loans: A profit and loss statement shows business revenue, expenses and net income. The lender determines the required reporting period, acceptable preparer, and whether supporting bank statements or other records are needed.
Traditional financing may still fit.
John can compare these options with tax-return qualification. For an eligible rental property, a DSCR program may also be worth discussing.
Tax-return qualification
A lender may review business and personal returns, business history, and income trends.
Explore tax-return qualification →Investor / DSCR
For an eligible rental property, some lenders focus on property cash flow instead of traditional employment income.
Explore investor / dscr →Tell John about your business and your goals.
You do not need to choose a program before starting the conversation.
- How long have you been self-employed, and how is your business structured?
- Do you receive 1099 income, and do deposits go into personal or business accounts?
- Do you have recent tax returns, bank statements or a professionally prepared profit and loss statement?
- Are you buying or refinancing, and will the property be your primary home, second home or investment?
- What purchase price or loan amount and down payment are you considering?
Compare the entire loan.
Rates, costs, down payment, credit, reserves and documentation requirements vary by lender and program. Alternative-documentation options may cost more than traditional financing. John will help you compare available options for your situation. All loans are subject to underwriting and borrower and property qualification.
TALK THROUGH YOUR SCENARIO
Start with a conversation.
Tell John what you want to accomplish. He’ll help you sort through the options and next steps.