Who Uses Non-QM 1099 Program Loans and Why?

The Non-QM 1099 program is designed for independent contractors, freelancers, and seasoned self-employed professionals who've been in business for at least 2 years. Unlike conventional loans that scrutinize W-2s and tax returns, this program leverages your 1099 income statements to qualify you—focusing on your gross receipts while applying an ultra-low expense factor as little as 10% (no CPA letter required). It's perfect for those whose tax deductions make traditional income look lower than their actual cash flow.

Ideal Borrowers:

• Seasoned Freelancers and Consultants (e.g., graphic designers, IT specialists, marketing pros): If you've filed 1099s for 2+ years with steady client payments, this program counts more of your income toward qualification without the red tape of business expense verification.
• Independent Contractors in Trades (e.g., plumbers, electricians, mechanics): Gig or project-based work? Your 1099s from multiple clients provide the proof lenders need, especially with variable but reliable earnings.
• Gig Economy Veterans (e.g., rideshare drivers, delivery pros, content creators): For those in Alabama's booming app-based workforce—estimated at 79,000 active workers—this streamlines homeownership by validating platform payouts as qualifying income.

• Established Business Owners with 1099-Heavy Income (e.g., real estate agents, lawyers): Minimum 2 years self-employed ensures stability, and the low 10% expense factor maximizes your borrowing power without needing a CPA's stamp of approval.

Why Choose the Non-QM 1099 Program? Key Advantages:

• Higher Loan-to-Value Limits: Up to 90% LTV for purchases and rate/term refinances (loan amounts up to $3,000,000)—ideal for buying your first home or lowering payments in a high-rate environment. No MI 
• Cash-Out Flexibility: Access up to 80% LTV for cash-out refinances, including bill consolidation to tackle high-interest debt, business investments, or home upgrades.
• Simplified Qualification: No deep dive into business expenses—just 2 years of 1099s, credit scores from 620+, and DTI up to 50%. Close faster than traditional self-employed loans, often in 30-45 days.
• Tailored for Alabama's Self-Employed Boom: Alabama is home to over 449,000 small businesses (99.4% of all firms), including roughly 374,000 non-employer operations—many run by 1099 filers like you.

Our program has empowered thousands of these entrepreneurs statewide, from Birmingham freelancers to Mobile contractors, turning variable income into homeownership reality. With gig workers making up a growing slice of the economy (up 22% since 2010 to over 47,000 in recent years), we're here to serve Alabama's diverse, dynamic workforce.

At MTG Quote, we specialize in Non-QM solutions that fit your 1099 lifestyle—whether you're scaling your freelance empire or consolidating bills for peace of mind. Alabama's self-employed community deserves financing that works as hard as you do. Apply now for a personalized quote and join the thousands we've helped across the state!