NON-QM · SELF-EMPLOYED
1099 and P&L Loans in Florida
Qualify with 1099 forms or a profit-and-loss statement instead of full tax returns — built for contractors, gig workers and business owners.
OVERVIEW
Self-employed income, documented simply
1099 loans let independent contractors and commission earners qualify using their 1099 forms (usually from the past one or two years), with the lender applying an expense factor instead of using tax-return income after write-offs.
P&L loans let business owners qualify with a profit-and-loss statement prepared or signed by a CPA, enrolled agent or tax preparer, sometimes alongside a few months of business bank statements. If your deposits tell the story better, a bank statement loan may fit instead.
At a glance
- No full tax returns with many programs
- 1099 forms or a professionally prepared P&L
- Primary homes, second homes and investment properties
- Purchase and refinance
KEY FEATURES
How it works
1099 documentation
Your 1099s and proof you’re still working in the same line of work. Some lenders also verify recent deposits.
P&L documentation
A 12- or 24-month P&L from a licensed tax professional, plus proof of business ownership, and sometimes recent bank statements.
Expense factor
Lenders subtract a set expense percentage from 1099 or P&L income rather than using your write-offs.
Reserves and pricing
As Non-QM loans, these usually require reserves and are priced above conventional loans.
GENERAL GUIDELINES
Is it a fit?
Who it’s a good fit for
- Independent contractors and 1099 sales reps
- Real estate agents and other commission earners
- Small-business owners with heavy write-offs
- Gig and freelance workers
Things to know
- Typically at least two years in the same line of work
- The tax professional must be licensed and independent of you
- Requirements vary by lender
- Alex compares Non-QM options to find the best fit
Guidelines vary by lender and change over time. Alex will review your specific situation against current program rules.
Run your numbers first
Use the Income Qualification Calculator to see how much income you need to qualify. Then tap Check My Options and Alex will confirm real figures for your situation.
FAQ
Common questions
Do I need two years of 1099s?
Many programs use one or two years. Alex will check which documentation gets you the best result.
Who can prepare my P&L?
Usually a CPA, enrolled agent or licensed tax preparer who isn’t related to you or your business.
Is a 1099 loan better than a bank statement loan?
It depends on your paperwork. If your 1099s are clean, a 1099 loan is often simpler; if deposits are stronger, bank statements may qualify you for more.
GET STARTED
See what you may qualify for
Share a few details and Alex will follow up personally to review your options — usually the same business day. No obligation, and requesting information does not affect your credit.
- Shop 300+ wholesale lenders through NEXA Mortgage
- Clear answers on rates, costs and cash to close
- Pre-approval decisions typically within 24 hours of a complete application
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EXPLORE MORE
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Not a commitment to lend. Not all applicants qualify. Programs, rates, terms and availability may change without notice. All loans are subject to credit, income, asset and property approval. Non-QM loans are not agency or government loans and may have different rates, terms and requirements. H. Alex El-Ali, NMLS #1513750, FL LO125697 | NEXA Mortgage, LLC, NMLS #1660690. Equal Housing Lender.
Ready To Take The Next Step?
Talk with Alex about your goals — no pressure, no obligation.