Traditional underwriting was built for W-2 employees. If you earn your living your own way, these alternative-documentation programs were built for you:
- 1099 loans qualify independent contractors and gig earners using their 1099 forms instead of tax returns — no waiting for a “good” tax year.
- Profit & Loss (P&L) loans use a CPA-, tax preparer-, or accountant-prepared profit-and-loss statement to document business income, often paired with a few months of bank statements to support it.
- ITIN loans serve borrowers who file taxes with an Individual Taxpayer Identification Number instead of a Social Security number, making homeownership possible for many immigrant families who work, earn, and pay taxes in the U.S.
Good fit if: you’re self-employed, contract-based, or an ITIN filer with verifiable income and reasonable credit; expect down payments commonly in the 10–25% range depending on the program and profile, and pricing above standard loans in exchange for the flexibility.
Documentation rules for these programs are the most lender-specific in the business. Tell me how you actually earn, and I’ll route your file to the lenders whose guidelines fit it — not the other way around.
True Home Lending is operated by Navaneet Dutt, Mortgage Loan Originator, NMLS #2262708, with Loan Factory, NMLS #320841. All loans are subject to credit and property approval. Program availability, rates, terms, and conditions are subject to change without notice and may vary by state, lender, and borrower profile. Not all applicants will qualify. This content is for education only and is not a quote, a loan approval, or a commitment to lend. Equal Housing Opportunity.