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Loan Programs
Non-QM – 1099
A "1099 mortgage loan program" typically refers to a mortgage loan program designed for borrowers who are self employed and receive income reported on IRS Form 1099 rather than W-2 forms. This type of loan program recognizes the unique financial circumstances of self-employed individuals, who may have variable income streams and different documentation requirements compared to traditional employees - No Tax returns are required.

Down Payment
1099 mortgage loans require a down payment, although the specific amount can vary depending on factors such as the borrower's credit profile and the lender's requirements. The minimum down payment required is 10%.
Income Verification
Lenders assess the borrower's income based on their past year or 2 years 1099 form – no tax returns or transcripts needed.
Credit Score
While credit requirements can vary among lenders, borrowers typically need to have a good credit score to qualify for a 1099 mortgage loan. The minimum credit score required is 660.
Mortgage Insurance
1099 loans do not have mortgage insurance regardless of the amount of down payment.
Loan Limits
Loan limits are set by the specific lender.
*No-income verification loan rates are substantially higher than currently available mortgage rates.

NMLS #2051275
• www.nmlsconsumeraccess.org

• Licensed by:
o District of Columbia Department of Insurance, Securities & Banking #MLB 2051275
o Florida Office of Financial Regulation #MBR4894
o Maryland Office of Financial Regulation #2051275
o Virginia Bureau of Financial Institutions #MC-7155
• 4Ever Lending USA LLC arranges loans with third-party providers, does not make any mortgage loan commitments or fund any mortgage loans.
• For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval.

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