1099

Loan Program

1099 Loans

1099 Loan is the ideal solution for sole proprietors and contract individuals seeking mortgage financing. Tailored for those with 1099 income, this program requires 1099s for the last year and a one-year history with the same employer. It allows for gift funds, offers a maximum DTI of 55%, and provides options for cash-outs. Loan amounts can go up to $4 million, with minimal documentation and the flexibility of temporary rate buydowns.
With the simplicity of using 1099 forms as proof of income and requiring just three months of reserves, this program by Fundrock Capital, the best mortgage lender, is perfect for 1099 workers looking for a streamlined mortgage process.

LOAN CRITERIA

Collateral

Non-Owner Occupied Single-Family Properties; Condos; Townhomes

Term:

30 & 40-year fixed

Loan Amount:

up to $4 million

Minimum Property Value:

$150k** **As-Completed Value

Rates:

Starting at 10.99%

Minimum FICO:

620

New Construction
Loan Program Typical Leverages

ASSUMING ENTITLEMENTS, PERMITS & APPROVED PLANS

TIER 1

Completed 10 or More Ground Up Construction Projects

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 75% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 80% of the As-Is Value

Up to 75% of the As-Is Value

Up to 80% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 75% ARV

TOTAL LOAN-TO-COST

Up to 75% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 72.5% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 72.5% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 75% ARV

TOTAL LOAN-TO-COST

Up to 75% ARV

TIER 2

Completed 3+ Investment Real Estate Transactions, At Least One Must Be Heavy Rehab

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 75% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 75% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 70% ARV

TOTAL LOAN-TO-COST

Up to 70% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 72.5% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 72.5% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 70% ARV

TOTAL LOAN-TO-COST

Up to 70% ARV

TIER 3

Completed 3+ Investment Real Estate Transactions, At Least One Must Be Heavy Rehab

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 70% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 72.5% of the As-Is Value

Up to 70% of the As-Is Value

Up to 72.5% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 67.5% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 67.5% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

TIER 4

New Customer

PURCHASE

INITIAL LOAN AMOUNT

MAXIMUM LOAN-TO-VALUE

Up to 70% of the As-Is Value

MAXIMUM LOAN-TO-COST

Up to 70% of the As-Is Value

MAX LOAN AMOUNT

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

REFINANCE

MAXIMUM LOAN-TO-VALUE

Up to 65% of the As-Is Value

MAXIMUM LOAN-TO-COST

N/A

Up to 65% of the As-Is Value

N/A

MAXIMUM AFTER-REPAIR VALUE

Up to 65% ARV

TOTAL LOAN-TO-COST

Up to 65% ARV

At least one borrower or guarantor must have the number of qualifying pieces of experience as dictated above or equivalent experience in the past three (3) years and at least one (1) year in the business of acquiring real estate for investment purposes or renovating real estate.

1099

1099 Loans

LOAN CRITERIA

LOAN CRITERIA

Collateral

Term:

Loan Amount:

Minimum Property Value:

Rates:

Minimum FICO:

New Construction Loan Program Typical Leverages

TIER 1

PURCHASE

PURCHASE

REFINANCE

REFINANCE

TIER 2

PURCHASE

PURCHASE

REFINANCE

REFINANCE

TIER 3

PURCHASE

PURCHASE

REFINANCE

REFINANCE

TIER 4

PURCHASE

PURCHASE

REFINANCE

REFINANCE

READY TO GET STARTED?

New Construction
Loan Program Typical Leverages