Qualifying self-employed clients can be one of the most challenging parts of a broker’s role, especially when those clients earn income through 1099s rather than W-2s. Traditional mortgage programs often don’t reflect how these clients earn or report income, making approvals difficult despite strong financials.
Dominion Financial Wholesale offers a solution with our 1099 Loan Program, designed specifically for clients who are independent contractors or 100% commission-based earners. With flexible documentation options and up to 90% LTV available, this program helps brokers get more deals to the closing table.
A Smarter Way to Qualify Commission and Contract Income
This program is ideal for clients with variable or non-traditional income who file 1099s instead of receiving regular payroll. Rather than relying on tax returns or paystubs, we allow clients to qualify using their 1099 forms (either for one or two years) along with a streamlined income analysis.
Clients must show at least two years of self-employment history and provide year-to-date earnings documentation. From there, they can qualify using one of two business expense approaches:
– A standardized 90% net margin, assuming a 10% expense factor
– A third-party prepared Profit & Loss statement from a CPA, EA, accountant, or tax preparer
YTD income can be verified using check stubs with year-to-date totals (if available) or bank statements showing deposits.
Key Program Highlights
The 1099 Loan Program offers brokers and their clients more flexibility without the strict requirements of agency guidelines:
– Up to 90% LTV for purchases
– Up to 85% LTV for rate and term refinances
– Up to 80% LTV for cash-out refinances
– $3,000,000 maximum loan amount
– Qualify with just 1 or 2 years of 1099s or IRS transcripts
By streamlining documentation and focusing on how your clients actually earn income, this program keeps deals moving while expanding your eligible borrower base.
Close More Deals Without Full Doc Limitations
Many brokers lose qualified clients at the point of documentation – not because of credit or capacity, but because conventional programs aren’t designed to accommodate how today’s gig workers and commission earners operate. With Dominion Financial Wholesale’s 1099 Loan, you can offer a realistic path to financing for those who don’t fit the traditional mold.
Whether your client is a real estate agent, rideshare driver, consultant, or freelance contractor, this loan is built to match their income profile – without unnecessary paperwork or delays.
Submit Your Scenario Today
At Dominion Financial Wholesale, we’re committed to helping brokers serve more clients with common-sense programs that meet real-world income needs. Our 1099 Loan is a standout option for qualifying independent earners while delivering the speed and service you expect.
Get approved with Dominion Financial Wholesale or log in to the Broker Portal to get started today!
