1099 STATEMENT LOANS

1099-based loans are for self-employed borrowers and those with multiple income sources.

Not everyone qualifies for a traditional loan. Self employed people are creative and ambitious and their compensation comes in many forms. American Heritage Lending helps its self employed clients qualify for loans without the traditional income qualification standards.

Apply Now (855) 340-9892
 

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Someone will reach out to you within 24 hours to talk to you about your funding scenario.

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Tell us what type of financing strategy you are looking for

Once Julie and Tim took over my two properties deal for refinance, they worked tirelessly to push everything through within 2 weeks time. Awesome experience, friendly knowledgeable people that care about helping you and your needs. Julie, Tim, and Spencer are great people to work with, thank you so much for working with me.. Truly a pleasurable experience!

Benefits of Working With Us

  • Direct Refinance LenderDirect Refinance Lender
  • Minimal DocumentationMinimal Documentation
  • Closes as Quickly as 14 DaysCloses as Quickly as 14 Days
  • No Pre-Payment Penalty AvailableNo Pre-Payment Penalty Available
  • In House UnderwritingIn House Underwriting

Apply Now (855) 340-9892

Program Criteria

1

Score and background check

2

$100K – $10MM+ non-owner occupied property

3

2 months of recent bank statements

4

Fix & Flip Experienced Required

States We Lend In

Looking for lending in a state not listed? We do lend in other states on a case-by-case scenario. Give us a call to see what we can do for you.

Apply Now (855) 340-9892
 

Property Types We Fund

We lend on Single-Family Residences, 2 to 4 Units, Townhomes, Planned Unit Developments, or Condominiums. All properties must be non-owner occupied.

Apply Now (855) 340-9892
 

AHL is an outstanding company. They actually execute on their promises. I had the pleasure of working directly with Jessica Reynolds. She is knowledgeable and efficient. It was my first time getting a rental loan and she was extremely patient with me. She was by my side every step of the way.

OUR 1099 LENDING RATES & TERMS:

PROPERTY TYPES Single family, condos, townhomes, multi-family 2-4 units
LOAN AMOUNTS $75,000 – $3,000,000
TERM 5 & 7 year ARM and 30-Year Fixed-Rate Loans
LOANS AVAILABLE Loans are available to individuals, trusts, corporations, and limited partnerships.

1099 loans are for self-employed individuals who prefer to use their 1099 forms to prove their qualifying income and eligibility for financing. Self-employed borrowers include those with a 25% or greater ownership interest in a business/entity or are paid using the IRS form 1099. 1099 loans do not require you to share your tax returns or W2s.

1099 loan financing is available from Non-QM lenders but not from traditional lenders such as banks. Financing a property with 1099 loans is a quick and straightforward process for an experienced lender like American Heritage Lending.

1099 INCOME-BASED FINANCING

1099-based loans are for self-employed borrowers and those with multiple income sources. Common business structures that may be eligible for bank statement loans include:

  • Sole proprietorshipsSole proprietorships
  • Limited Liability Company (LLC)Limited Liability Company (LLC)
  • PartnershipsPartnerships
  • S-CorporationS-Corporation
  • CorporationCorporation

Not everyone qualifies for a traditional loan. Self employed people are creative and ambitious and their compensation comes in many forms. American Heritage Lending helps its self employed clients qualify for loans without the traditional income qualification standards.

WHY CHOOSE A 1099 INCOME-BASED LOAN?

If you’re self-employed or report income on a 1099, you are likely to have difficulty getting a loan through a traditional lender like a bank or credit union. With American Heritage Lending, you don’t have to show your tax returns or W2 to get approved for a loan, just your 1099 statement.

We understand the need to move quickly when opportunities arise. Our application, appraisal, and approval process can be accomplished in just a few days to ensure you can negotiate effectively with the property holder.

Apply Now (855) 340-9892
 

USE OUR 1099 LOANS WHEN TRADITIONAL LENDING SOLUTIONS ARE NOT AVAILABLE

Traditional banks will often disqualify self-employed borrowers wanting to use their 1099 statement to qualify for a loan or charge them a high rate. This barrier is because lenders calculate your “qualifying” income based on your taxable income. Business owners and self-employed individuals write off many of their business expenses, reducing their taxable income and their “qualifying” income.

American Heritage Lending caters to the self-employed with 1099-based lending options. Qualifying income for our lending services is the 12 or 24 monthly average from the total number of 1099’s minus expenses. These flexible lending options allow self-employed borrowers the same financing abilities as those using their taxes to prove qualifying income.

1099 LOAN SCENARIOS WE COMMONLY ASSIST WITH BUT ARE NOT LIMITED TO:

  • Business owners
  • Contractors
  • Gig jobs
  • Seasonal work

Two-year employment history is required for the income to be considered stable and used for qualifying. When the borrower has less than a two-year history of receiving income, the borrower must provide a written analysis to justify the stability of the income used to qualify the borrower. It is essential to establish your income as ongoing to be eligible for a loan.