Saturday, April 13, 2024

1099 Solely Mortgage Program – MortgageDepot


Securing a mortgage mortgage as a self-employed particular person could be difficult because of the lack of conventional revenue verification. Nonetheless, MortgageDepot understands the distinctive wants of self-employed debtors and provides an answer by way of the 1099 Solely Mortgage Program. This specialised mortgage mortgage program caters to those that could not have a constant, verifiable revenue like W-2 staff. Let’s discover this system’s highlights and the way it may also help self-employed people obtain their homeownership desires.

  • Max 85% Mortgage-to-Worth (LTV)
  • Minimal FICO Rating of 599
  • Proprietor-Occupied Properties Solely
  • Not Restricted to First-Time House Consumers
  • Mortgage Quantities as much as $4 Million
  • Money Out Accessible
  • Property sorts: single-family residences, condos, and townhomes (no rural or multi-unit properties)
  • Most Debt-to-Revenue (DTI) Ratio of 55%
  • Accomplished FNMA Kind 1005 for 2-Yr Employment Historical past
  • Non permanent Fee Buydowns Accessible

With the 1099 Solely Mortgage Program, MortgageDepot acknowledges the distinctive monetary circumstances of self-employed debtors. By offering versatile tips, increased LTV ratios, and accommodating mortgage phrases, this program goals to empower self-employed people to attain their homeownership targets. In case you are a self-employed borrower on the lookout for a mortgage, we encourage you to discover the chances of the 1099 Solely Mortgage Program with MortgageDepot and take a step nearer to proudly owning your dream house.

Contact us as we speak to study extra and start your homeownership journey.

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