Nevada Loan Options
Nevada Alternative Document 1099 Tax Form Loan
At Pacific Home Loans, we recognize the diverse income structures of individuals and strive to provide accessible and tailored financing solutions. We are delighted to introduce a unique loan program exclusively utilizing a borrower’s 1099 tax form for qualification.
Designed to accommodate self-employed individuals or those with non-traditional income documentation, this specialized loan program simplifies the qualification process. Borrowers can leverage their 1099 tax forms as a comprehensive and reliable means of demonstrating their financial stability.
With this innovative approach, our goal is to empower a diverse range of borrowers in Nevada to achieve their homeownership aspirations. We are committed to delivering personalized and accessible financing options that provide flexibility and inclusivity to our valued clients.
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 (Nevada PUD 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.
