Self Employed or 1099 Contract Workers

Self-Employed Individuals often have difficulty qualifying for a mortgage due to writing off business expenses on their income taxes. If this describes you, Coast2Coast Mortgage have you covered!

These loan programs often require just a little more than your typical 3-5% down payments, and rates are priced for the inherent risk associated with these loans. 

We offer several alternate document solutions for self-employed borrowers as well as contract workers. 

Bank statement loans

With this product, we will typically use your most recent 12-24 bank statements to calculate your income off of your deposits.

Profit and Loss Statement

In this Loan program, we take your Profit and Loss statement covering the most recent 12 months for your income.

1099 Only

This product we use your last 2 years 1099 forms for your income

VOE Only Verification of Employment only

In this product, we do a written verification of employment from a third-party vendor to determine your income. It is typically used for people who receive cash tips or bonus income that did not show up on previous tax returns.

To better understand these loan programs or to apply for one of them, please reach out to any of our licensed loan originators. Programs are subject to change at any time. 

No Ratio 

This program does not require income documentation at all. It allows a buyer to buy without tax returns, pay stubs, w2's or any income documentation. We still require assets for proof of reserves and down payment/closing costs. Please ask one of our Loan Originators for more details.