1099
Available on Prime, Super Prime, and Apex Prime
A 1099 mortgage loan helps self-employed borrowers, independent contractors, freelancers, consultants, and other 1099 earners qualify for home financing using 1099 income documentation.
AD Mortgage’s 1099 loan program is designed for borrowers whose income may not fit traditional W-2 or full tax return requirements. Eligible borrowers may use recent 1099 forms and year-to-date income documentation to show stable income and qualify for a Non-QM mortgage.
This program is available for owner-occupied homes, second homes, and investment properties, with loan amounts up to $4 million and up to 85% CLTV for purchase
Program features- Loan amounts up to $4 million
- DTI up to 55%
- Cash out available
- 1-year history with the same employer
- Temporary rate buydowns available
- 1099s for the last 1 year allowed
- Expense ratio 10%
- Gift funds allowed
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Program details
Fast turnaround times
As fast as
24 hr
Disclosure
As fast as
24 hr
Underwriting
As fast as
48 hr