Our Programs 

1099 Income

Available on Rainier & Sequoia Non-QM

Qualify gig workers, contractors, and freelancers with ease!

  • No tax returns needed
  • Use 1 or 2 Years 1099 Documentation
  • Loan amounts to $5 Million
  • Up to 90% LTV
  • Up to 50% DTI
  • Standard 10% expense factor
  • Combine multiple 1099s or income types to qualify
  • Borrowers who recently transitioned from W-2 to 1099 employment can qualify-ask your AE!
  • 15, 30, and 40-year fixed 30 and 40-year IO
  • Purchase, Refinance, and Cash-Out
  • Primary Residences, Second Homes and Investment Properties
Sequoia Non-QM

Sequoia Non-QM Expanded

Rainier Non-QM

What Is The Expense Factor?

We have a standard 10% expense factor applied making this such a simple program!

For a truck driver who made $135,000 last year he would qualify for…

  • $135,000 on 1099 x 90% =$121,500
  • $121,500 / 12 = $10,125
  • $10,125 in Qualifying Income

Price Your Scenario

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Recently Switched From W-2 to 1099 Flyer
Mortgage Options for 1099 Income Social
Calling All 1099 Borrowers Social

Check Out Our Current Turn Times For Our 1099 Loans

1099 FAQ

1099’s are a type of self-employed tax document that are commonly issued to contractors, freelancers, and gig workers to document their wages.

To calculate qualifying income using a 1099, we review the last 12 to 24 months of 1099’s and subtract a standard 10% expense ratio.

Earnings year-to-date (YTD) must show that income is ongoing using either pay stubs or bank statements.

In some scenarios, we may be able to qualify borrowers using less than 1 year of 1099 income. For example, Newfi offers solutions for borrowers who recently switched from a W-2 role to a 1099 role. 

No tax returns are required.