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.

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles