1099 Program
Simplified Mortgage Solutions for Self-Employed Individuals
At Maine Mortgage Solutions, we understand that traditional mortgage options can be challenging for self-employed borrowers, particularly those who earn income through 1099 contracts. Our 1099 Program is designed specifically to meet the needs of these individuals, offering a flexible and accessible pathway to homeownership or refinancing.
Key Features of Our 1099 Program
- High Loan-to-Value (LTV) Options:
- Up to 90% LTV with a 700 FICO score.
- Minimum FICO score of 600 for up to 70% LTV.
- No Tax Returns Required:
- Simplify your application process. There’s no need to provide tax returns.
- Flexible Income Documentation:
- Provide the last one or two years of 1099 statements along with a Year-to-Date (YTD) earnings statement or YTD bank statements.
Additional Benefits
- Versatile Property Options:
- Suitable for owner-occupied residences, second homes, and investment properties.
- Variety of Loan Purposes:
- Available for purchases, rate and term refinancing, and cash-out refinancing.
- Stable Employment Requirement:
- Borrowers must be self-employed (1099) with the same company for the last two years.
Why Choose Maine Mortgage Solutions?
At Maine Mortgage Solutions, we are committed to providing personalized mortgage solutions that cater to the unique financial situations of our clients. Our 1099 Program is a testament to our dedication to making homeownership accessible for self-employed individuals. Let us help you navigate the mortgage process with ease and confidence.
For more details or to start your application, contact Mark Violette today!