1099 Mortgage Loan Program Explained: How to Qualify Without Tax Returns

Описание: If you earn income on a 1099 instead of a W-2, you may still qualify for a mortgage — even if traditional lenders have told you no. In this video, Delaware and Maryland mortgage loan officer John Thomas explains how the 1099 Mortgage Loan Program works and how self-employed borrowers can qualify for a home loan without providing tax returns.

This program allows qualified borrowers to use gross 1099 income instead of net income from tax returns, which often makes a significant difference for independent contractors, real estate agents, consultants, gig workers, and commission-based professionals.

John walks through:
• How lenders calculate income for a 1099 mortgage loan
• Current 1099 mortgage loan guidelines
• Credit score and down payment requirements
• Who this program works best for
• Differences between 1099 loans, bank statement loans, and P&L loans
• How to apply for a mortgage if you're self-employed

If you are a real estate agent, freelancer, consultant, contractor, or gig worker, this may be the loan program designed for you. Learn more about 1099 Mortgage Loan Program at https://delawaremortgageloans.net/109...

To find out quickly if you qualify:
Call or Text: 302-703-0727
Apply Online:
http://www.PRMILoanApplication.com
John Thomas
Senior Loan Officer
Primary Residential Mortgage, Inc.
NMLS #38783

Serving borrowers across Delaware and Maryland including:
New Castle County
Kent County
Sussex County
Baltimore Metro
Maryland suburbs

Non-QM loan programs offered by the John Thomas Team include:
1099 Mortgage Loans
Bank Statement Loans
P&L Loans
Asset Qualifier Loans
DSCR Loans for Investors
VOE Only Mortgage Programs
If you have been turned down by a traditional lender because of your 1099 income, there may still be a path to approval. The key is using the right loan program.
Call today to review your scenario.
302-703-0727

Chapters:
00:00 1099 Mortgage Loan Program Explained
00:28 Why Many 1099 Borrowers Get Denied
02:05 What a 1099 Mortgage Loan Is
03:15 Who This Program Is Best For
05:00 Special Message for Real Estate Agents
06:25 How Income Is Calculated on a 1099 Mortgage
08:15 1099 Mortgage Loan Guidelines
09:50 Credit Score Requirements
11:10 Down Payment and Loan Limits
12:20 1099 Loan vs Bank Statement Loan vs P&L Loan
14:10 How the Application Process Works
16:00 Documents Needed for Approval
17:30 Why Work With the John Thomas Team
19:00 How to Apply for a 1099 Mortgage Loan