1099 Only Loans — Star Financial

Designed for independent contractors and self-employed borrowers who earn with Form 1099 and may not show traditional W-2 income.

Who This Helps

• Self-employed pros, gig workers, realtors, rideshare/drivers, consultants, creatives, commission-based earners
• Borrowers whose tax returns don’t reflect true cash flow due to write-offs

Key Benefits

• Qualify using 1099 income only (no tax returns in many cases)
• Common-sense calculations of annualized 1099 earnings (program rules apply)
• Flexible documentation vs. traditional QM guidelines
• Purchase, rate/term, and cash-out options available
• Primary, second home, and investment property options (program-specific)

Basic Eligibility (varies by investor)

• Recent 1099s (typically 1–2 years) + YTD income evidence (e.g., bank activity/pay statements/CPA letter)
• Credit score and LTV per program matrix
• Reserves may be required
• DTI/DSCR per program (some investors permit bank-statement or expense-factor alternatives if needed)

Documentation You May Need

• Last 1–2 years 1099s (and YTD proof of receipts)
• Bank statements (to evidence consistent deposits)
• CPA/EA letter verifying business existence and (if applicable) expense factor
• Photo ID, mortgage statements, HOI, HOA docs (as applicable)
• Purchase contract & EMD (for purchases) or payoff info (for refis)

How It Works

1. Quick consult — we review your 1099 history and goals
2. Pre-qual — estimate max loan based on 1099 income method
3. Full approval — submit docs, appraisal, and underwriting
4. Close — purchase or refinance with terms that fit your plan

Good Use Cases

• First-time or move-up buyers with 1099 income
• Self-employed borrowers who write off heavily on tax returns
• Cash-out for renovations, debt consolidation, or business capital

Star Financial • NMLS 1429 • Serving CA, TX & FL
Disclosures: Non-QM program; not a commitment to lend. Eligibility, rates, and terms subject to change and full underwriting approval. All loans subject to credit, income, asset, and property verification per investor guidelines. Consult your tax advisor regarding deductibility.