1099 Mortgage

Power Your Homeownership Journey with 1099 Mortgages

Dedicated Mortgage Solutions for Independent Contractors

Minimum Credit Score


Maximum Debt To Income


Maximum Loan To Value


Maximum Loan Amount

Lightning Loans by Innovative Mortgage understands the ever-evolving landscape of self-employment and the unique financial documents that come with it. For those who may not have traditional forms of income documentation but earn their livelihood through 1099 forms, we extend our 1099 Mortgage program—a loan solution tailored to the specific needs of independent contractors and freelancers.

Features of the 1099 Mortgage Program:

Simplified Income Verification:

  • The 1099 Mortgage program uses 1099 forms to verify income, eliminating the need for tax returns which may not fully reflect your earning potential due to deductions and business expenses.

Adaptability for Varied Income Histories:

  • Whether your income is project-based or seasonal, our loan officers review 12 to 24 months of 1099 forms and bank statements to understand your true financial picture.

Competitive Loan Terms:

  • With Innovative Mortgage’s 1099 program, you can access competitive rates and terms that align with your individual financial standing and housing goals.

Diverse Loan Options:

  • We offer a variety of loan products to fit your needs, from fixed-rate mortgages to adjustable-rate mortgages (ARMs), ensuring that you find the optimal solution.

Program Requirements:

  • Applicants should be able to provide a history of 1099-based income, typically for the past two years, to qualify for this program.
  • A credit history review is also part of the qualification process, with solutions available for those with near-prime credit scores.

Streamlined Application Process:

  • Our loan specialists are adept at navigating the complexities of 1099 income, providing a smooth application process that recognizes the nuances of self-employment.

Leverage Your Earnings for Homeownership:

The Innovative Mortgage 1099 Mortgage program acknowledges that your 1099 income is a legitimate and stable form of earnings. We are equipped to help you leverage this income into homeownership or real estate investment without the barriers that traditional

Pros of 1099 Mortgages


Designed for 1099 Workers

Tailored to the unique needs of independent contractors, freelancers, and self-employed professionals.

Flexibility and Ease

No need to worry about W-2 forms or consistent work history. Your 1099 forms are all we need.

Fast Closings

Our process for 1099 mortgages involves fewer restrictions, leading to quicker closings.

Cons of 1099 Mortgages


Higher Cost

Compared to conventional mortgages, 1099 mortgages could come with slightly higher costs.

Potential Prepayment Penalty

Although fully disclosed and optional, opting out of a prepayment penalty may slightly increase the cost.

Key Issues That Will Get Early Attention

Determine Eligibility
Let's examine your 1099 income to verify your eligibility for a 1099 mortgage.
Understand Income Calculation
We'll explain how we calculate your income based on your 1099 forms.
Prepare Necessary Documentation
We'll guide you through gathering the necessary documentation for a smooth application process.
Explore Your Options
Let's look at all your loan options to find the one that fits best with your financial situation.