1099 Income Bridge Loan
How to Change Careers and Homes Without Waiting
Making the decision to be an entrepreneur is difficult enough without worrying about qualifying for a traditional mortgage. Our 1099 Income Bridge loan was created to help entrepreneurs buy the homes they’ve earned. As you may have already discovered, if you recently changed status from a w-2 employee to a 1099-contractor you may not qualify for a traditional mortgage – even if you are financially able and want to buy a home.
Hurst Lending created our 1099-Income Bridge Loan program to help you purchase a new home today, even if you don’t yet have 2 years of self-employed tax returns. Through this program, we provide a bridge loan enabling you to purchase a new home now and, as soon as you have two years’ worth of tax returns as a 1099 contractor, we help you refinance the bridge loan into a normal low-rate, 30-year or 15-year fixed rate, conventional loan.
With our 1099-Income Bridge Loan, you only need 1 year worth of tax returns showing your 1099 income as a contractor. This program is intended for clients with a strong financial situation and solid credit scores.
If you have more than 2 years worth of income as a 1099 contractor, you can skip the bridge loan and we can move you straight into a low-rate, 30-year or 15-year fixed rate, conventional loan.
As a family-owned company, we believe in helping to ensure entrepreneurs and contractors are not penalized for lack of tax history when they are able to, and want to, move now.
If you are interested in getting more information about our 1099 Income Bridge Loan Program or our 1099 Bridge Loan Program please click the button below to contact us.