Your 1099s, Not Your Tax Returns
A 1099 loan counts your gross 1099 pay at 100%. Here is every document it needs.
A 1099 loan qualifies you on the gross income on your 1099s. Your write-offs do not shrink it.
This 1099 loan checklist is for contractors, commission earners and anyone paid on a 1099. The JD.Mortgage Team at PRMG is a direct lender, and a real underwriter reads every file. 25+ years, 3,100+ closed loans, Scotsman Guide Top Originator 2026. Lending in 49 states. New York excluded.
What Documents Do You Need for a 1099 Loan? The Short Answer
You need a photo ID, your 1099s for the last 1 or 2 years, an IRS wage and income transcript that matches them, bank statements showing what you have earned so far this year, and 30 days of asset statements. No tax returns. We count 100% of your gross 1099 income, and scores start at 620.
Who Needs What, at a Glance
| Document | Why |
|---|---|
| 1099s (1 or 2 years) | Your qualifying income |
| IRS wage and income transcript | Confirms the 1099s |
| Bank statements for this year | Shows what you have earned so far this year |
| Asset statements (30 days) | Down payment and reserves |
| Tax returns | Not needed |
Your 1099 Loan Checklist
Everyone
- ☐ Photo ID
- ☐ Your 1099s from the last 1 or 2 years
- ☐ An IRS wage and income transcript. We help you request it.
- ☐ Bank statements covering this year so far, to show your year-to-date earnings
- ☐ Asset statements for your down payment and reserves: last 30 days, all pages
If it applies to you
- ☐ Divorce decree
- ☐ Child support or alimony orders
- ☐ Bankruptcy papers
- ☐ A short business narrative, if we ask. We send the template.
Paid on both W-2 and 1099? Start the application and we will show you how to use both.
Run My NumbersHow 1099 Income Is Counted
- 100% of gross: we add your 1099 income and this year’s earnings, then average them by month. No expense cut.
- Credit: scores start at 620.
- History: 2 years of self-employment is standard. Less can work with related work history before it.
See 1099 vs bank statement loans to compare the two.
How to Apply, Step by Step
Start the application
It takes about 2 minutes. No SSN and no credit pull on the first step.
We run your income
We average your 1099s and this year’s earnings and show you what you qualify for.
Upload your documents
Use the checklist above. We help with the IRS transcript.
Get your pre-approval
A real underwriter reads your file. No automated denial.
1099 Loan Application FAQ
What documents do I need for a 1099 loan?
You need a photo ID, your 1099s for the last 1 or 2 years, an IRS wage and income transcript, bank statements covering this year so far, and 30 days of asset statements. You do not need tax returns.
How is 1099 income calculated for a mortgage?
We count 100% of your gross 1099 income with no expense cut. We add this year’s earnings from your bank statements and average the total by the number of months, with at least 12 months used.
Do I need tax returns for a 1099 loan?
No. We use your 1099s and an IRS wage and income transcript instead of tax returns, so the write-offs on your return do not lower your qualifying income.
What credit score do I need for a 1099 loan?
Scores start at 620. Higher scores open more down payment and loan size options, and we show you where your score lands when we run your numbers.
What is a wage and income transcript?
It is a record from the IRS that lists the 1099s filed under your Social Security number. We use it to confirm your 1099s are real and complete. We help you request it, and it is free.
How long does the first step take?
About 2 minutes. There is no SSN and no credit pull on the first step. After that, we run your 1099 income and send you the exact documents your file needs.
Related Pages
About the Author
J.D. Peck is an Area Manager and Mortgage Loan Originator (NMLS #314883) with the JD.Mortgage Team at Paramount Residential Mortgage Group, Inc. (NMLS #75243), based in Colorado Springs. 25+ years, 3,100+ closed loans, Scotsman Guide Top Originator 2026. Lending in 49 states. New York excluded.
Last updated: September 25, 2026. Program facts sourced from the PRMG Income Qualifying Product Profile (09/17/2026).
Start Your 1099 Loan
It takes about 2 minutes. We count 100% of your gross 1099 income and show you what you qualify for.
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.