That’s right we now can qualify a borrower using only 1 (one) year of income tax return, the borrower must have a 2 (two) year employment history but only 1 year of income tax return is used to qualify the borrower.

We are always in search of mortgage programs that benefit the self-employed borrower or a 1099 employee borrower who writes off a lot and not claiming enough income to qualify for a loan, although these type borrowers can afford a much higher monthly mortgage payment. So what we have done is rolled out the 1-year income tax return program. Please contact our offices to speak with a loan officer who can let you know how this program works.

We also provide no income verification loans or a bank statement program if the 1-year tax return income documentation program doesn’t work out. Inquire within.

Below are a few beneficial points to the 1-year income program.

  • Loans from $100,000 – $3,000,000
  • Self-employed, commission: qualify on 1-year tax return — Self-Employed for 2 yrs
  • Gifts permitted from acceptable family members — restrictions apply
  • Cash-out proceeds can be used to meet reserve requirements
  • Foreign Nationals permitted
  • No Seasoning including cash-out refinances
  • All occupancy types allowed

Contact one of our loan consultants to learn more about this program.

*This product is not regulated by the New York State Department of Financial Services

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