1099 Loans
The ideal mortgage for anyone who has a 1099 instead of a W-2, these mortgages simply allow for different avenues to get qualified. At Loan Vault we know many 1099 workers enjoy the flexibility of their profession, so why be limited when it comes to your mortgage? We work hard to find the flexibility you desire while working with these exclusive loans.
Intro to 1099 Loans
Loan Vault knows that flexibility and working freedom is important for many individuals. We also know that often with these freedoms, these individuals often bear the burdens of jumping through additional hoops as if they were large business owners. Let us make your mortgage once less hoop to jump through, and know that we will help find you the best rates so you can keep doing what you love without the worry.
What is a 1099 loan?
A 1099 Loans is simply a loan that uses a W-9 and/or 1099 form when qualifying for a loan rather than a W-2 form. It is ideal for any individual who uses one of those two forms for taxes in lieu of a traditional W-2.
These loans:
- Have consistent down payments
- Allow for the use of W-9s and 1099s instead of W-2s
- Are perfect for self-employed or free-lancing individuals
Is a 1099 Loan Right For You?
Requirements to keep in mind when considering a 1099 loan:
- Documentation of year-to-date income
- Lower debt-to-income ratios and/or higher credit scores