1099 Income Self Employed Mortgages
Vibrato can help Arizona & Colorado self-employed borrowers obtain or refinance a mortgage utilizing only 1099 income to qualify — and not tax returns.
Qualifying with only 1099 income doesn't have to be difficult— we're here to help.
Our lending partners will allow the use of only 1099 income (without tax returns) if you've been in the same line of work for 2 years - woohoo!
If you've ran into issues qualifying for a mortgage because of your 1099-based compensation, call us.
Historically, 1099-based borrowers would be required to provide 2 years of personal tax returns to qualify - but not with Vibrato.
Purchasing or Refinancing — We Got You Covered
Home Purchase
Up to 90% Loan-To-Value (based on loan program and FICO)
- FICO scores above 600
- First Time Homebuyers allowed
- No tax returns required
- Must be in the same line of work or with same employer for 2 years
- Primary, second home and investment properties allowed
- 1099 and 2 months bank statements to verify income
- Up to $4,000,000 loan amounts
- Down payment gift funds are eligible
- Condos and 2-4 unit properties allowed
- Short seasoning requirements for past bankruptcy, short sale or foreclosure (reduced LTV)
Refinance or Equity Cash-Out
Up to 80% Loan-To-Value (based on loan amount & FICO)
- FICO scores above 600
- Must be in the same line of work or with same employer for 2 years
- No tax returns required
- No limit on existing financed properties
- Primary, second home and investment properties allowed
- 1099 and 2 months bank statements to verify income
- Cashout limits up to $2,000,000 (depending on LTV and FICO)
- Condos and 2-4 unit properties allowed
- Short seasoning requirements for past bankruptcy, short sale or foreclosure
A Streamlined, Modern Mortgage Process
1. Tell us a bit about the loan you're looking for and your business — no credit check.
We'll ask you some simple questions about the home you're purchasing or refinancing to get started (no credit check or SSN is collected).
2. We'll then discuss 1099 income mortgage loan options tailored just for you.
Based on the information submitted, we'll go over different mortgage types you may qualify for (interest rates, fees, terms, etc).
3. If you're ready to move forward, we'll complete your application and get started!
We'll get the last few pieces needed to complete your application (credit report and FICO score) and then get everything in motion to get your loan done!
Our Team Gets It
Vibrato was created by entrepreneurs just like yourself — we speak your language. You're at home with our team.
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Lender Labs LLC dba Vibrato, NMLS: #2420007 Arizona License: MB-1042016 Colorado License: MLO.100537074. To check the license status of your mortgage broker, visit http://www.dora.state.co.us/realestate/index.htm