1099 mortgage loans in Maine and Florida
A 1099 mortgage may let me qualify eligible contractors using documented 1099 income for a primary or second home in Maine or Florida. I can review how your income is documented and compare available programs.
Yes, I do 1099 mortgages in Maine and Florida. I review primary and second home financing in Maine and Florida.
Travis Penny, Mortgage Broker, NMLS 1649161, Vision Mortgage, LLC NMLS 1286953. NMLS Consumer Access
Last reviewed November 2, 2026
One person, start to finish
You deal with me from the first call to the closing table, not a call center. I'm an independent broker, so I shop your file with multiple lenders instead of fitting you into one bank's menu. Call or text 207-615-7770.
Can you qualify for a mortgage using 1099 income?
Some specialty mortgage programs review documented 1099 earnings instead of relying only on net income shown on tax returns. A history of work, the source and consistency of income, and any program expense calculation still matter. I compare that path with standard financing for your file.
All loans are subject to credit and underwriting approval. Not all applicants will qualify. Program terms and availability can change. This page is for general education and is not a loan offer or a commitment to make a loan. Travis Penny, NMLS ID #1649161, is a mortgage broker with Vision Mortgage, LLC, NMLS #1286953. Equal Housing Opportunity.
Contract work
Independent contractors and realtors can ask how their 1099 history will be evaluated.
Variable earnings
Travel nursing, gig work, and commissions call for a careful income review.
Compare documentation
Bank statement and standard mortgage paths may also be worth considering.
Related reading
Who a 1099 program may fit
Contractors, realtors, nurses on contract, gig workers, and commission earners can have income that changes from one assignment or sale to the next. A 1099 mortgage path may fit if your documented earnings tell a clearer story than taxable income alone. It is not an approval based solely on having a 1099 form. If you are self employed and planning a move south, my Maine to Florida mortgage checklist helps you line up the paperwork early. I also wrote about what happens when a Florida condo is turned down by a bank, and I have local notes for buyers working with a Naples mortgage broker.
How 1099 income is reviewed
Programs may look at your 1099 forms, work history, and supporting evidence of ongoing income. An expense calculation can affect how much income is used for qualification. The accepted documentation and calculation vary, so I review your records before choosing a program.
Real example: my Maine 1099 second home case study shows a file with under two years of 1099 income.
1099 mortgage loans in Florida
A 1099 loan in Florida may fit a contractor or consultant whose documented contract earnings are clearer than taxable income alone. For a Florida 1099 home loan, I review the work history and how the program treats expenses. A 1099 mortgage loan in Florida still requires a review of credit, assets and the property.
For a Florida 1099 loan, I also ask about homeowners and flood insurance costs and, for a condo, association and building requirements. The self employed mortgage options in Florida post compares documentation paths. If deposits tell the clearer story, see bank statement loans in Maine and Florida.
Other options to compare
Some clients fit a conventional loan using full documentation. Others may want to review a bank statement loan or another option in the specialty loan guide. My Maine self employment guide covers the broader Maine picture. I can explain the tradeoffs without assuming one income document tells the whole story.
Discuss your contract income
Call or text me at (207) 615-7770, or email Travis@travis.mortgage. Guidelines can change, and I confirm the current terms for each file.
One year of 1099s, and buyers who just switched from W-2 to 1099
Most 1099 programs want two years of history. I now have access to a purchase program that can use one year of 1099 income for buyers with a 760 or higher credit score. There is also a day one option for people who just moved from a W-2 job to 1099 work in the same line of work, so you don't have to wait a year or two to buy. Not everyone will qualify. If you are weighing a W-2 job against a 1099 role and want to know how each affects buying a home, read W-2 vs 1099 for a mortgage.
Frequently asked questions
What is a 1099 only mortgage?
It is a loan qualified using your 1099 income instead of W-2s or full tax returns. Lenders usually look at 12 to 24 months of 1099s, and exact rules vary by lender and program.
Can I buy a home using 1099 income?
Possibly. Some mortgage programs review documented 1099 earnings. Eligibility depends on your income history, credit, assets, and property.
Do 1099 mortgage programs require tax returns?
Some specialty programs can use 1099 forms and other documents rather than relying only on tax return income. Exact documentation varies by program.
Can a realtor qualify using commissions?
Commission income may be considered when its history and documentation meet a program's guidelines. I review how the commissions are earned and reported.
Can travel nurses use 1099 income?
Travel nurses paid as independent contractors may have a 1099 option. Assignments, income history, and program requirements must be reviewed.
Is a 1099 mortgage the same as a bank statement loan?
No. One path evaluates documented contractor earnings and the other reviews eligible account deposits. The right choice depends on your records and program guidelines.
Can I get a mortgage with only one year of 1099s?
Yes, on a purchase program I have access to, one year of 1099 income can be used with a 760 or higher credit score. Not everyone will qualify.
I just switched from W-2 to 1099. Do I have to wait to buy?
Not always. A day one option can work when you moved from a W-2 job to 1099 work in the same line of work. I review the details of your contract and history.
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