1099 Loan

A 1099 loan is designed for independent contractors and self-employed individuals who receive income reported on IRS Form 1099 rather than W-2s.

Instead of traditional pay stubs or tax returns, lenders review 1099 forms and sometimes bank statements to verify qualifying income.

These programs may allow more flexibility for gig workers, consultants, and contract professionals, though they often require stronger credit, larger down payments, and may carry higher rates than standard loan programs. Guidelines can vary by lender, and not all borrowers will qualify.