Can I buy a home with a 1099 income?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes. 1099 contractors and freelancers qualify either with two years of tax returns or, increasingly, with a 1099 income loan that uses your gross 1099 earnings minus a flat expense factor — no full returns needed.
This helps gig workers and independent contractors whose deductions shrink their net income on paper. We'll compare both methods and use whichever gives you the stronger qualifying number.
1099 income counts
Yes. If you earn 1099 income as a contractor or freelancer, you can buy a home. Lenders treat 1099 income like self-employment, so they usually want a two-year history to confirm it is stable.
They average your income over that period and factor in your business expenses, since your net income is what supports the loan.
A simpler 1099 path
Heavy write-offs shrinking your net income? A 1099 income loan can qualify you on your gross 1099 earnings instead, often letting you borrow more.
We know how to present 1099 income in the best light. Apply now and we will run both standard and 1099-based options for you.