1099 Mortgage Loan Program Explained
How to Qualify for a Mortgage Without Tax Returns
About This Video
If you earn your income on a 1099 instead of a W-2, you may still qualify for a mortgage — even if traditional lenders have turned you down. In this video, Delaware and Maryland mortgage loan officer John Thomas explains exactly how the 1099 Mortgage Loan Program works and how self-employed borrowers, independent contractors, real estate agents, and gig workers can qualify for a home loan without ever providing tax returns.
The key difference with this program: instead of using your net taxable income after deductions, we use your gross 1099 income — the actual dollar amount on your 1099 forms before business expenses. For most self-employed borrowers, this single change is the difference between a denial and an approval.
John covers who qualifies, how income is calculated, minimum credit score requirements, down payment options, and how the 1099 program compares to bank statement loans and P&L loans.
What You’ll Learn in This Video
- What the 1099 Mortgage Loan Program is and who it’s designed for
- How gross 1099 income is used instead of net taxable income
- Minimum credit score requirements (starting at 600)
- Down payment requirements (minimum 10%)
- Loan amounts up to $3 million
- How the 1099 loan compares to bank statement and P&L loans
- Why real estate agents are the most common 1099 borrowers
- How to apply and what documents you need
Ready to Find Out If You Qualify?
Talk to John Thomas — no obligation, no sales pitch. Get a straight answer in one conversation.
Learn More
John R. Thomas, NMLS #38783 | Primary Residential Mortgage, Inc. | 248 E Chestnut Hill Rd, Newark, DE 19713 | 302-703-0727
Primary Residential Mortgage, Inc. is licensed by the Delaware State Bank Commissioner. This information is for educational purposes only and does not constitute a commitment to lend. All loan programs are subject to credit approval and program guidelines which are subject to change without notice.
1099 Mortgage Loan Program in Delaware and Maryland
