1099 Texas Mortgage Lenders No Tax Returns

1099 Texas Mortgage Lenders No Tax Returns 
Yes, we offer a 1099 Texas mortgage applicants the ability to use 1099 for income qualification with No Tax returns. Our 1099 Texas mortgage lenders allow you to use 1099 income to qualify with no tax returns. This 1099-only mortgage loan program is the perfect solution for Texas 1099 self-employed independent contractors who write off much of their income needed to qualify for the Texas mortgage they need. With our Texas mortgage programs, you can use Texas 1099-NEC to qualify in all of Texas with no tax returns needed. FHA profit loss for mortgage lenders.

1099 Only Texas Mortgage Video Explains

1099 Texas Mortgage Qualifying: 

Income Calculation: Gross 1099 income subtract borrower’s expense ratio to determine net income. Qualify up to 90% 1099 income. 
Pre Approval: Approval is based on the strength of 1099 income, credit profile, property value, and reserves.
Debt-to-Income Ratio (DTI): Calculated based on qualifying income expenses derived from 1099s.
Loan-to-Value: Final LTV is determined by property occupancy, property type, and credit score.

1099 Texas Mortgage Loan Advantages: 

• No Tax Returns To Qualify: Helps those with tax deductions that reduce their reported income.
• Alternative Documentation: Contractors can combine 1099 and w2 income with no tax returns.
• Investment Property Eligibility: Great for borrowers looking to expand their real estate portfolios.
  Flexible Qualification: Mixable options for freelancers and independent contractors with multiple income sources.

Overview of 1099 Home Loans: 

• Credit History: A clean credit history with solid rental payment history and minimal late payments.
• Reserves: 1099 Texas mortgage lenders generally require 3-12 months of reserves, especially for higher loan amounts or investment properties.
• Income History: 1-2 Yrs of 1099 Forms as Proof of Income. NO Tax Return. Mortgage lenders typically use the gross income on the 1099 to calculate qualifying income.
• Bank Statements: May be required to verify that you are receiving year-to-date 1099 income deposits.
• Reserves: Lenders may require 3-12 months of emergency money reserves.
• Debt-to-Income Ratio (DTI): Calculated based on qualifying income derived from 1099s and bank statements. 

Who’s Using 1099 Home Loans in Texas? 

Self-Employed Borrowers: Texas entrepreneurs and small business owners who file 1099s.
High-Income Professionals: Individuals with high gross income but significant deductions and write-offs.
Independent Contractors: Professionals like realtors, consultants, designers, and artists.
Gig Workers: Drivers for rideshare platforms, delivery services, or other app-based businesses.

1099 Texas No Tax Return Mortgage Options: 

• No Doc, No W2, No Tax Return = OK         Bank Statement Deposits = OK            Jumbo No Tax Returns = OK
• Home Loan No Tax Returns =OK                1099 mortgage Lenders = OK              3 Months Bank Statement = OK
• Self-Employed Less than 1 year = OK         VOE Only Mortgage  = OK                  Asset Depletion = OK
• ITIN No Tax return mortgage = OK              Nonresident No Tax Return = OK          Pledged Assets = OK
• Asset Depletion or Pledged = OK                Business Profit Loss = OK                   DSCR Rental Income = OK

1099 Self-Employed  Texas Mortgage Lenders

Self-employed Texas mortgage applicants, independent contractors, and gig workers are everywhere. But when traditional underwriting demands two years of tax returns, full P&Ls, and complex income calculations, No Income – No Tax Return Mortgage Options

Introducing Alt-Doc 1099: The Non-QM Solution for Self-Employed Borrowers

Our Alt-Doc 1099 program is designed specifically for brokers who want to close more deals without the documentation headaches. Here’s what makes it different:

→ $30M Maximum Loan Size
Your high-earning 1099 clients finally have access to jumbo financing.

→ 1099s Only
No tax returns. No profit and loss statements. Just 1099s. We apply a simple 10% expense factor and move forward.

→ 10% Expense Factor
Straightforward underwriting that keeps deals moving. No complex income calculations or back-and-forth with underwriters.

→ LTV Options: 90% / 85% / 80% Depending on loan program and laon amount.
Competitive leverage for purchases and refinances. Your clients get the financing they need, and you close the deal.

1099 Only Texas Mortgage Alternatives

1099 Texas Mortgage Income Requirements

• Proof of 2 years in the same line for work w2 is OK.
• The last 12 months of 1099-NEC income.
• Documentation of year-to-date income.
• 600+ minimum credit score.
• Minimum 20% down with No Mortgage Insurance.
• A minimum loan amount of $100,000.

1099 Texas Mortgage Average Income 

1099 Mortgage Loan Requirements:

• 600 minimum credit score.
• Min. 20% roughly includes 10% down payment + 5% closing cost + 5% reserves includes 4-12 months reserves.
• Stable Income with proof of 24 months in the same line of work, even if previously W2
• The last 12 months of 1099 income.
• Income Statement: Showing year-to-date continuation of income.
• A minimum loan amount of $100,000 is required to apply

What is a 1099 Mortgage loan?