Hawaii Loan Options
Hawaii Alternative Document 1099 Tax Form Loan
At Pacific Home Loans, we understand that individuals with varying income structures deserve accessible and tailored financing solutions. That’s why we’re proud to offer a unique loan program that exclusively utilizes a borrower’s 1099 tax form for qualification. Designed to accommodate self-employed individuals or those with non-traditional income documentation, this specialized loan streamlines the qualification process, allowing borrowers to leverage their 1099 tax forms as a comprehensive and reliable means of showcasing their financial stability. With this innovative approach, we aim to empower a diverse range of borrowers to achieve their homeownership goals, providing flexibility and inclusivity in our commitment to delivering personalized and accessible financing options.
Program Highlights of the 1099 Loan:
No Tax Returns Needed to Qualify.
Perfect for the self-employed borrower on a 1099 who cannot qualify for a full doc (traditional) mortgage loan. The most recent 1099 statements from 1 or 2 years ago will be used to qualify.
Program Highlights:
- Primary Residence, Second Home, or Investment property
- Qualify with most recent 1-2 years’ 1099 form with a YTD earning or bank statement
- 700 FICO = minimum 10% down
- Maximum loan amount: $3,000,000
- Requirement: applicant must be self-employed on a 1099 for last 2 years consecutively with the same company
- Available for purchases, cash-out refinances, and no cash-out refinances
Eligible Property Types:
- Single Family Homes
- Condominiums
- Condotels
- Site Condos (Hawaii CPR properties)
- Airbnb, VRBO, etc.
Loan Terms:
- 5/1 ARM – interest only available
- 7/1 ARM
- 10/1 ARM
- 15-year Fixed
- 30-year Fixed
*These products may have a higher interest rate, more points or more fees than other products requiring documentation.
Information and self-help tools are provided for your independent use and are not intended to provide investment advice. We cannot and do not guarantee loan eligibility or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to speak with one of our experienced loan officers for a loan eligibility analysis and custom rate and payment estimate.
