1099 Only Mortgage Loan

A 1099-only loan is a specialized mortgage option for independent contractors, freelancers, and gig workers who receive 1099 income. This loan program is designed to cater to individuals in Chula Vista and San Diego who may not qualify for traditional mortgages due to non-standard income documentation.

What is a 1099-Only Loan?

Instead of requiring tax returns, these loans use your 1099 forms to verify your income, making it easier for self-employed borrowers to qualify for financing.

Key Features of 1099-Only Loans:

Simplified Income Verification: Borrowers can qualify using their most recent 1099 form alone, bypassing the need for full tax returns.

Flexible Terms: Down payment and interest rate options tailored to your financial situation. Minimum down payment is 20%.

High Loan Limits: Suitable for purchasing or refinancing high-value properties.

Fast Approval Process: Streamlined documentation speeds up the loan process. Income docs needed for this program are one-year 1099 and two most recent bank statements.

Who Benefits from 1099-Only Loans?

Freelancers and independent contractors.

Real estate agents, consultants, and other gig economy workers.

Borrowers with high 1099 income but significant tax deductions.

Why Choose First Priority Home Loans?

At First Priority Home Loans, we specialize in assisting self-employed borrowers in Chula Vista and San Diego with unique income circumstances. With over 24 years of experience in the mortgage industry, we understand the challenges you face and provide customized loan solutions to help you achieve your homeownership or investment dreams.

Get Started Today!

If you’re ready to take the next step toward homeownership or refinancing with a 1099-only loan, contact us today for personalized guidance. Let us help you unlock the door to your financial goals!