1099 Reduced Doc

Overview

The 1099 Reduced Doc program allows independent contractors to qualify using 1099 income with simplified expense assumptions.

Eligibility

• 1099 must be in borrower’s individual name

• Fixed Expense Ratio: 10%

• YTD income must align with 1099 earnings

• Additional guidelines may apply. Contact AE for more information

Borrower Profile

Ideal for:

• Independent contractors

• Gig economy workers

• Commission-based earners

Loan Limits

• Minimum Loan Amount: $150,000

• Maximum Loan Amount: $5,000,000