Paid by 1099? Your gross 1099 total is your income. Not what is left after mileage, equipment, and the home office. A 1099 loan counts 100% of it, validates it with the IRS, and never opens your tax return. 620 score. 10% down with strong credit. Colorado Springs based, 25+ years.
No SSN required. No credit pull. Takes about 2 minutes.
How a 1099 Loan Works
Send one or two years of 1099s
Every 1099-NEC, 1099-MISC, and 1099-K you received. Multiple payers are normal and often a strength.
We validate them with the IRS
You sign a 4506-C. We pull the IRS wage and income transcript. The totals have to match. That is what makes this a fully documented loan.
Send year-to-date bank statements
January 1 through your last full month. This shows the income is still coming in. We do not review 12 or 24 months.
We average it
Prior year 1099 total plus year-to-date income, divided by the months. That average is your qualifying income. No expense factor.
What You Need to Qualify
Source: PRMG Non-QM Income Qualifying product profile dated June 4, 2026. Terms change. Confirm on your file.
Who Gets Paid by 1099 in Colorado Springs
Real estate agents
Brokerage 1099s. Commission that swings by season. The 1099 loan averages it and counts all of it. Realtor mortgage guide.
Defense and aerospace contractors
Consultants and subcontractors working for the primes around Peterson and Schriever. Often one big 1099 from one payer. Clean file.
Insurance and financial advisors
1099-NEC from the carrier or broker-dealer. Renewals count.
Trades subcontractors
Framers, electricians, and finish crews paid by the GC on a 1099. Contractor mortgage guide.
Gig and platform workers
1099-K from Uber, DoorDash, Etsy, Stripe. Counts when it is your business, not a side gig.
Traveling nurses and 1099 medical
Locums and agency 1099s across the hospital systems here. The two-year rule looks at the line of work, not the address.
1099 Loan vs. Bank Statement Loan
If most of your income shows up on 1099s, start here. If you have big deposits that are not on a 1099, the bank statement loan may count more.
Why Colorado Springs Has So Many Self-Employed Buyers
This is a military town. Military towns run on small business. Contractors who serve Fort Carson, Peterson, Schriever, and the Academy. Spouses who built a business that moves with each PCS. Veterans who got out and started a company. Real estate agents. Home builders. HVAC and plumbing shops. Cleaning companies, gyms, salons, and food trucks. And a growing number of remote 1099 workers who picked the Pikes Peak region on purpose.
The problem is the same for all of them. A good accountant lowers your taxable income. A bank reads that lower number as your pay. So the owner who keeps the most money is often the one who gets told no. We fix the document, not the business.
Myths
Myth: 1099 workers cannot get a mortgage. A 1099 loan qualifies on 100% of gross. Most lenders just do not offer it.
Myth: It is a stated-income loan. Every 1099 is checked against the IRS transcript. It is fully documented, with different paper.
Myth: I need one big client. Eight small 1099s are fine. Steady is what matters, not the source.
Every Colorado Springs Self-Employed Page We Have
Sorted by how you get paid and what you are trying to do.
Colorado Springs self-employed mortgage hub
Every self-employed and business-owner loan path we run in Colorado Springs, sorted by how you get paid.
Bank statement loans in Colorado Springs
Qualify on 12 or 24 months of deposits. No tax returns.
P&L loans in Colorado Springs
Your CPA’s profit and loss statement is your income.
Asset depletion loans in Colorado Springs
Qualify on savings and investments instead of a paycheck.
Alt-AUS jumbo in Colorado Springs
Above $832,750 with clean tax returns and a DTI up to 49.99%.
Self-employed refinance in Colorado Springs
Rate-and-term to 89.99%. Cash-out to $1,500,000. No tax returns.
DSCR loans in Colorado Springs
Rentals qualify on rent, not your income.
Jumbo loans in Colorado Springs
Broadmoor, Flying Horse, Black Forest. Eight jumbo paths.
Contractor and trades mortgages
Built for builders, HVAC, plumbing, electrical, and every trade in El Paso County.
Realtor and commission-income mortgages
1099 agents and commission earners. Variable income, handled.
Rental property investor loans
House-hack, BRRRR, and out-of-state buyers. DSCR, bank statement, and HELOC paths.
Colorado Springs 1099 Loan FAQ
What is a 1099 loan?
A home loan that qualifies you on 1 or 2 years of 1099 income instead of tax returns. 100% of the gross 1099 total counts. The lender validates it with an IRS wage and income transcript and adds your year-to-date bank statement income.
What credit score do I need for a 1099 loan in Colorado Springs?
620 minimum. A 720 to 740+ score opens 10% down on a primary home and larger loan amounts.
Is a 1099 loan the same as a bank statement loan?
No. A 1099 loan uses your 1099 totals with no expense factor. A bank statement loan uses deposits and applies a 50% factor on business statements. Which one wins depends on how your money arrives.
Can a real estate agent in Colorado Springs get a 1099 loan?
Yes. Brokerage 1099s are the most common file we see on this program. Commission that varies by month is averaged over 12 to 24 months.
Do I need two years of 1099s?
One year can work if it is your strongest. Two years gives a smoother average. We calculate both and use the higher one.
Can I use 1099-K income from Uber, Etsy, or Stripe?
Yes, when it is your business income and it is steady. One-time gigs may be discounted or excluded.
Can I buy a rental with a 1099 loan?
Yes. Primary homes, second homes, and 1 to 4 unit rentals all qualify. Rentals need 20% down or more.
Does a 1099 loan require tax returns?
No. It requires your 1099 forms, a signed 4506-C so we can pull the IRS transcript, and year-to-date bank statements.
Full program details are on the national 1099 loan guide and the 1099 loan FAQ.
Written by
J.D. Peck
Area Manager and Mortgage Loan Originator at Paramount Residential Mortgage Group, Inc. NMLS #314883. 25+ years of mortgage experience, 3,100+ closed loans, Scotsman Guide Top Originator 2026.
Last updated: September 9, 2026. Loan program parameters subject to change — confirm current eligibility on your specific scenario before relying on any figure shown.
Your 1099s Are the Whole Application
Two minutes to start. No SSN. No credit pull. Send the 1099s and we tell you your qualifying income before you shop.
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.