1099 Verified Loans – An Overview
As a self-employed borrower, you may have difficulty qualifying for a traditional mortgage loan. However, at WealthifyMe, we offer 1099 Verified Loans to help self-employed borrowers obtain the financing they need to purchase a home.
What are 1099 Verified Loans?
A 1099 Verified Loan is a mortgage option that uses a borrower’s most recent 1099 tax form as proof of income. This type of loan is specifically designed for self-employed borrowers who may not have traditional pay stubs or W-2 forms to provide as proof of income.
How Do 1099 Verified Loans Work?
When applying for a 1099 Verified Loan, borrowers must provide their most recent 1099 tax form as proof of income. Lenders will then use this information to determine the borrower’s ability to repay the loan.
Benefits of 1099 Verified Loans
One of the biggest benefits of 1099 Verified Loans is that they allow self-employed borrowers to qualify for a mortgage loan without traditional income documentation. This type of loan can also provide a faster approval process, as it does not require extensive income verification.
At WealthifyMe, we understand that self-employed borrowers may have difficulty finding a mortgage that meets their unique needs. That’s why we offer 1099 Verified Loans as a lending option to help these borrowers achieve their homeownership goals.
WealthifyMe – Your Trusted Mortgage Brokerage
At WealthifyMe, we are committed to helping our clients find the best mortgage options to suit their unique financial situations. Our team of experienced mortgage professionals can guide you through the application process and help you choose the best loan option for your needs.
Contact us today to learn more about 1099 Verified Loans and how we can help you achieve your homeownership dreams.