For independent contractors.
No tax returns required — qualify on 1099 income with a 10% expense factor instead of being penalized for legitimate write-offs. First-time homebuyers welcome.
What we do — and what we don't. Local Loan Store™ specializes in commercial, investor, and non-owner-occupied lending plus secured & unsecured business working capital. We do not originate personal loans or owner-occupied residential mortgages. If your scenario is personal or owner-occupied, we'll happily refer you to a trusted partner who is ready to help — just submit your inquiry and we'll route it to the right desk.
Send your last 1–2 years of 1099s
We apply a 10% expense factor — no Schedule C deep-dive
Order appraisal and title in parallel
Close in 21–30 days
Worked examples using the program's actual LTV and qualifying rules. Numbers are illustrative — your file determines your final terms.
Independent contractor, FICO 710, first-time buyer
90% LTV with $162k qualifying income (after 10% expense factor).
% of value financed at purchase — click a bar to open the program
USD millions — click a bar to open the program
Lower band = best-case pricing. Hover for details, click to open the program.
A flat 10% expense factor is dramatically more favorable than tax-return underwriting, which often nets 1099 earners down by 30–50%.
This program is built for agents, sales reps, gig-economy workers, and consultants who get a clean 1099-NEC.
Combine with our 1-Year P&L product if your 1099 history is shorter than two years.
Quick answers about 1099 Loans. Not seeing your question? Talk to a loan officer below.
Submit your scenario — a loan officer will confirm program fit and indicative pricing within one business day.
