Skip to main content

1099 Income Loan

Credit scores starting at 660

Up to 85% LTV, No MI

Our 1099 income loan option is for self-employed borrowers who are 1099 earners not able to qualify for a full doc mortgage loan. Tax write-offs make verifying income difficult for self-employed people. This program allows you to use 1099’s for the last year or the last 2 years in lieu of tax returns.  

  • Rates in the low 5s
  • Max LTV 85% with 680 score
  • Max LTV 75% with 660 score
  • Loans up to $3 million, Minimum loan of $150,000
  • No tax returns are required
  • Most recent one or two years 1099 plus year to date earning statement allowed
  • Year to date earnings are verified from earning statement, paystubs, or bank statements
  • 1099s must be from a single employer
  • Borrower must be self-employed working for the same employer for two years
  • Owner-occupied, 2nd homes, and non-owner occupied
  • Purchase and cash-out or rate-term refinance
  • 4 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu


Can you get a mortgage with 1099 income?
Yes, 1099 earners can use 1099 earning statements or bank statements to qualify for a loan. This loan option helps those who cannot verify income based on tax returns. Typically, one to two years of the most recent statements are required and the borrower must be employed with a single employer for two years.
Is 1099 earned income considered self-employed income?
Yes, income reported on form 1099-MISC in box 7 is considered non-employee compensation or self-employment income. Contact an Angel Oak Mortgage Solutions account executive for more details on qualifications.
How is income verified for a self-employed borrower?
Year to date earning are verified from 1099 earning statements, bank statements, and / or paystubs. An Angel Oak Mortgage Solutions account executive can provide the details on submissions.