For the self employed and contractors

Explore a 1099 Mortgage

Discover the flexibility and freedom of 1099 loans at Pii Mortgage, tailored specifically for self-employed individuals and independent contractors. Our 1099 loan programs are designed to accommodate the unique financial situations of those who receive income through 1099 forms rather than traditional W-2 employment. We understand the challenges and opportunities that come with being your own boss, and our expert team is here to guide you through a smooth and efficient mortgage process. With competitive rates, personalized service, and a straightforward application process, securing your dream home has never been easier. Partner with us and experience the difference of a mortgage solution that works for you.

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Minimum Requirements

The minimum requirements for a mortgage are the following.

Min 620 FICO

You need a minimum 620 FICO score to be pre qualified for a loan.

1 Year Employment

You need at least 1 year employment history with the same employer.

3 Months Reserves

Bank statements showing at least 3 months of reserves based on loan amount.

1 Year Tax Return

All you need is 1 year of 1099 tax returns.

Loan Calculator

Choose the loan amount and the term that suits you best.

Monthly instalment of $9.00
Monthly instalment of $18.00
Monthly instalment of $36.00
Monthly instalment of $36.00
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  • icon No SSN or credit history required
  • icon Checking for rate wont impact credit score
  • icon No fees

Benefits of 1099 Mortgage

A 1099 loan offers unparalleled flexibility for self-employed individuals and independent contractors, making it easier to qualify for a mortgage based on your unique income structure. Unlike traditional loans, which often require extensive documentation of steady W-2 income, our 1099 loans take into account your actual earnings, providing a more accurate reflection of your financial health. Enjoy competitive interest rates, a streamlined approval process, and the ability to leverage your business success to secure the home of your dreams.

  • Loan amounts up to $4 million
  • Primary residence & investment allowed
  • Up to 85% LTV on purchase amount
If you have question,we have answer

Frequently asked questions

Get answers to all questions you have and boost your knowledge so you can save, invest and spend smarter. See all questions here!

A 1099 Mortgage is a type of home loan designed specifically for self-employed individuals, independent contractors, freelancers, and gig workers who receive a 1099 form instead of a W-2. These loans take into account alternative income verification methods, recognizing the unique financial situations of 1099 earners.

Eligibility for a 1099 Mortgage typically requires you to be a self-employed individual, an independent contractor, freelancer, or gig worker who receives a 1099 form. Additionally, you need to have a stable income, a decent credit score, and meet other standard mortgage qualifications.

While specific requirements can vary, generally you will need: One year of 1099 forms. Recent bank statements (usually 12-24 months). Proof of business ownership (if applicable). A valid ID (such as a driver’s license or passport). Tax returns may not always be required, but having them can be helpful.

You can purchase various types of properties, including single-family homes, condos, townhouses, and multi-family units. The specific property types eligible for financing may vary based upon in income and credit.

Yes, you can refinance your existing mortgage with a 1099 Mortgage. Refinancing can help you take advantage of better interest rates or change the terms of your current loan to better suit your financial situation.

You can apply online through our website by filling out an application form and get pre qualified. Once pre qualified, you can uploading the necessary documents in the Buyer Portal.