1099 Home Loans for Austin Contractors and Freelancers
Get paid on 1099s? Let’s qualify you on what you actually earn. Call or text (512) 593-1336.
A Mortgage Built Around 1099 Pay
If clients pay you as an independent contractor, your income arrives on Form 1099 instead of a W-2. A 1099 mortgage is a non-QM loan that can qualify you using those 1099 forms, usually with an expense factor applied, rather than relying entirely on the net income on your tax return.
It’s a strong fit for consultants, nurses on contract, rideshare and delivery drivers, insurance and real estate professionals, and anyone else whose work is steady but whose tax return doesn’t reflect it.
When 1099 Financing Makes Sense
- Your 1099 income has been consistent for a year or two.
- Your tax deductions reduce your taxable income well below what you earn.
- You’re working through broader self-employed mortgage options and want to see which method gives the clearest file.
Look at other routes when
- Your tax returns already qualify you; traditional loans usually price better.
- You’re a veteran; a VA home loan may work with your documented income.
- You’re buying your first home and want the full picture from our first-time home buyer guidance.
- You need a larger loan; we can also check jumbo home loan options.
What You’ll Gather
- One or two years of 1099 forms.
- Recent bank statements showing those payments arriving.
- Year-to-date earnings records or current contracts.
- Asset statements for the down payment and reserves.
Working Through It With Us
- Income review. We match your 1099s to your deposits and spot gaps early.
- Program choice. We compare 1099, bank statement and traditional options.
- Lender quotes. You see each offer with its rate and APR together.
- Close. We help answer underwriter questions about clients and contracts.
1099 Mortgage Questions
Is a 1099 mortgage the same as a bank statement loan?
No. A 1099 loan focuses on your 1099 forms, while a bank statement loan works from deposits. Some borrowers qualify better one way than the other.
Do I need tax returns?
Some 1099 programs don’t require full tax returns, but requirements vary by lender.
What down payment is typical?
Many 1099 programs fall around 10% to 20% down, depending on credit, property and loan size.
What if I switched to an LLC recently?
It can still work, but the change needs to be explained and documented, so tell us early.
Austin’s Independent Workforce
Austin has a large independent workforce, from tech contractors to travel nurses to creative freelancers. Lenders want to see that the same kind of work continues, so keep contracts, invoices and payment records organized for the months before you apply.
Let’s Talk About Your Contract Income
We’ll show you how a lender would count your 1099 income before you write an offer. CapFi Lending is an Austin mortgage broker with more than 50 wholesale lenders, and Dustin Edwards has 22 years of experience helping independent earners buy homes. Our reviews: 4.9★ on Google (79) · 5.0★ on Zillow (16) · 100% recommend on Facebook (42).
Call or text (512) 593-1336 for a free pre-approval.
Rather talk it over first? Call or text (512) 593-1336, Monday through Saturday from 9 to 7.
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