8 cakes take 1099.
Every cake with a published matrix for this income type, largest loan first. Open one for its limits and matrix.
- Coffee Cake Lite
620+ · 90% LTV · to $4M
- Cup Cake
620+ · 80% LTV · to $4M
- Bundt Cake
620+ · 90% LTV · to $3M
- Pound Cake Lite
640+ · 90% LTV · to $3M
- Funnel Cake
660+ · 90% LTV · to $3M
- Sponge Cake
620+ · 85% LTV · to $3M
- Bundt Cake Investor
660+ · 85% LTV · to $3M
- Cheese Cake
660+ · 85% LTV · to $3M
- Velvet Cake
660+ · 85% LTV · to $3M
- Cup Cake Investor
660+ · 80% LTV · to $3M
- Funnel Cake Lite
620+ · 80% LTV · to $2M
- Sponge Cake Lite
620+ · 80% LTV · to $1.5M
What the file needs.
The 12 or 24 month average of total 1099 income, less a 10% expense factor.
- Two years of 1099 income, or one year after converting from W-2 in the same line of work
- One or two years of 1099s or 1099 transcripts
- The two most recent months of bank statements showing deposits consistent with the 1099s, or a WVOE with year-to-date pay
- Year-to-date earnings within 10% of the prior year or higher
From the Non-QM guidelines, version 5.0, section 6.5. The guidelines and matrix govern every file.
Read the guidelines (PDF, opens in a new tab)Check a scenario.
Move the score, LTV, and loan amount. The cakes that take it line up.
Other ways to document income
Have one of these files?
Talk it through with an account executive at (833) 717-0401 before you submit, or apply to become a partner and submit in TPO Connect.
Already approved? Log in to TPO Connect (opens in a new tab)
