Washington Loan Options
Washington Alternative Document 1099 Tax Form Loan
At Pacific Home Loans, we understand that many hardworking individuals in Washington earn income outside of traditional employment structures. That’s why we offer a specialized 1099 mortgage loan program designed for self-employed borrowers, independent contractors, freelancers, and gig workers. Instead of requiring W-2s or full tax returns, this program allows you to qualify for a home loan using just your 1099 tax forms. Whether you’re a consultant in Seattle, a rideshare driver in Tacoma, or a small business owner in Spokane, our 1099 loan program provides a flexible path to homeownership. It’s ideal for purchasing a primary residence, second home, or even an investment property anywhere in Washington. As both a lender and broker, Pacific Home Loans gives you access to a wide range of loan options, competitive rates, and personalized support every step of the way. We’re committed to helping non-traditional earners find smart, accessible financing solutions tailored to their unique needs.
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
- 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.
