Programs Non-QM Loans

1099

No Score or FICO 620 Up to 85% CLTV

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
Why choose our 1099?
  • 1099s for the last 1 year allowed
  • Expense ratio 10%
  • Gift funds allowed
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Program details

1099s for the last 1 year
1-year history with the same employer 
Gift funds allowed 
Loan amounts up to $4 million 
DTI up to 55% on owner-occupied 
Min FICO 620 or no score; for I/O Min. FICO 680 & FTHB no allowed
Up to 85% СLTV purchase / Up to 80% СLTV cash-out 
Owner-occupied, second home, and investment properties 
Cash-in-hand: No limitation for CLTV <55% & min FICO 680; $1,000,000 for CLTV from 55% to 65% or CLTV>65 & min FICO 700 or CLTV <=55 & FICO <680; $500,000 for CLTV >65% & FICO <700
Min. reserves 3 months 
Mortgage history: 0x30x12 and 0x90x24 for Super Prime, 0x60x12 for Prime 
Min. 12 months out of credit event
Eligible property types: SFR, townhomes, condo warrantable/non-warrantable (limited review), condotel, 2-4 units (not available for 2nd home), PUD, SFR rural, short-term rentals, leasehold 
Various fixed terms, 5/6 & 7/6 ARM terms
120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period
Eligible citizenship: US citizenship, Permanent & Non-Permanent Resident, ITIN
Eligible borrowers: Vesting Individuals, LLCs/Corp without a hit 
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Fast turnaround times

As fast as

24 hr

Disclosure

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As fast as

24 hr

Underwriting

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As fast as

48 hr

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