Maine Non-QM Second Home: Clear to Close in About 20 Business Days
Answer first
Yes. A Maine borrower with under two years of 1099 self-employment can buy a second home while keeping their primary residence. Conventional often says no. Non-QM can say yes.
In one closed Vision Mortgage file (closed September 2026):
- About 15 months of 1099 income (under the usual two-year mark)
- Maine second home purchase while the borrowers still owned their primary
- Program: Non-QM streamline 12-month 1099
- Clear to close in about 20 business days after the application finished
- Closed in 22 business days after the application finished
- Broker: Travis Penny, NMLS 1649161, Vision Mortgage, NMLS 1286953
- Phone: 207-615-7770
That is this file's timeline, not a guarantee. Timelines vary by file, appraisal, and title.
What blocked conventional, and what we did
| Issue | Fix |
|---|---|
| Under two years of self-employment (~15 months of 1099s) | Non-QM streamline 12-month 1099 program |
| Buying a second home while keeping the primary | Second-home Non-QM structure; primary stayed in place |
| Rural second home needed 80% LTV (guideline capped rural at 70%) | Exception package submitted and approved at 80% |
| Appraisal coded rural; nearby comps had been suburban | Local comps plus exception path sent so underwriting could clear LTV |
| 2025 1099 missing from the IRS wage and income transcript | Accountant e-filed; transcript resubmitted; income cleared |
| 1004d appraisal completion required before closing docs | Ordered, delivered, condition cleared |
Timeline (this file)
Clear to close about 20 business days after the application finished. Closed in 22 business days (September 2026). No borrower names or street address are published here.
FAQ
Can you get a mortgage in Maine with less than two years of 1099 income?
Yes, on the right Non-QM program. This file used about 15 months of 1099s on a streamline 12-month 1099 product.
Can you buy a Maine second home and keep your current house?
Yes. This file was a second-home purchase. The borrowers kept their primary residence.
How long did clear to close take?
About 20 business days from application finished to clear to close. Closing was 22 business days after application finished. Other files will differ.
Who brokered the loan?
Travis Penny (NMLS 1649161) at Vision Mortgage (NMLS 1286953). Maine and Florida. Text or call 207-615-7770.
Talk to Travis
Text or call 207-615-7770. Tell me your income type, occupancy, and timeline. I will tell you straight whether Non-QM fits.
Travis Penny, NMLS 1649161 | Vision Mortgage, NMLS 1286953. Licensed in Maine and Florida. Subject to credit approval, income, property, and program guidelines. Not all applicants qualify. Programs and guidelines can change. Equal Housing Opportunity.