Buying a home with 1099 income is entirely possible, though it typically requires more documentation and a clearer demonstration of income stability than W-2 employment. Lenders generally look for a two-year history of self-employment in the same line of work, but specialized (often called Non-QM loans) may allow qualification with only 12 to 24 months of history. Key Qualification Requirements
Be prepared to provide a more detailed financial snapshot than a standard employee: 1099 Mortgage buying a house with 1099 income
: Most lenders aim for a DTI below 43% for conventional loans, though some 1099-specific programs permit up to 50% . Essential Documentation Buying a home with 1099 income is entirely
: While some FHA/Conventional loans allow 3–3.5% down, many specialized 1099 programs require 10–20% to offset the perceived risk. buying a house with 1099 income