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Switched from W-2 to 1099? You Can Still Qualify!
Mortgage Approval Without the 12-Month 1099 History
Making the jump from a W-2 employee to a 1099 contractor shouldn’t keep you from buying a home. Our W-2 to 1099 Loan Program lets you qualify immediately after the switch, without having to wait for a full year of 1099 history. With flexible documentation, competitive terms, and no unnecessary expense factor applied, this program is ideal for professionals and contractors who’ve recently transitioned to independent work.
FAQs
Do I need 12 months of 1099 income to qualify?
No — you can qualify right after switching from W-2 to 1099.
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Will an expense factor reduce my qualifying income?
No — no expense factor is applied under this program.
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What documentation is required?
A letter from your employer or a signed contract verifying no expenses, plus standard full documentation items.
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Is this program limited to certain professions?
No — it’s open to all qualifying borrowers, though it’s especially popular with medical professionals, consultants, and sales contractors.
Why This Program Works for Newly Independent Workers
The traditional mortgage process penalizes borrowers who’ve recently switched to 1099 income by making them wait a year or more to qualify. This program removes that barrier so you can move forward with your purchase or refinance right away.
Program Highlights:
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No minimum history as a 1099 employee required
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No expense factor applied
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Full doc solution available
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Letter from employer or contract verifying no expenses required
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Perfect for medical professionals, sales reps, and contractors