Plenty of Pennsylvania workers are paid as independent contractors, from sales agents and drivers to nurses and consultants. When a lender reads only the net profit on a tax return, those borrowers can look like they earn far less than their 1099s show. A 1099 mortgage program may let a Pennsylvania contractor qualify from gross client payments with an expense adjustment, while the lender still verifies deposits and ability to repay. Steady clients and clean records that match your bank deposits make that review smoother.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Lenders often confirm that your business is active. In Pennsylvania, business entity records are searchable through the Pennsylvania Department of State, Bureau of Corporations and Charitable Organizations. If a CPA prepares your expense letter or P&L, the lender may check the license with the Pennsylvania State Board of Accountancy.
Where the numbers point in Pennsylvania
Counties with the most self-employed workers:
| County | Self-employed workers |
|---|---|
| Philadelphia County | 53,083 |
| Allegheny County | 45,605 |
| Montgomery County | 40,684 |
| Bucks County | 35,154 |
| Chester County | 28,419 |
| Lancaster County | 27,670 |
| Delaware County | 22,778 |
| York County | 18,179 |
| Berks County | 16,428 |
| Lehigh County | 14,105 |
Start your application in a few minutes. A licensed loan officer reviews it and follows up with your options.
- Takes a few minutes
- Reviewed by a licensed loan officer
- No obligation to proceed
Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Local pages in Pennsylvania
- Bank statement loans in Philadelphia
- Bank statement loans in Pittsburgh
- Bank statement loans in Allentown
- Bank statement loans in Harrisburg
- Bank statement loans in Lancaster
- Bank statement loans in Scranton
- Bank statement loans in Reading
- Bank statement loans in York
- Bank statement loans in Erie
- Bank statement loans in Pottstown
- Bank statement loans in State College
- Bank statement loans in Lebanon
- Bank statement loans in Bethlehem
- Bank statement loans in Altoona
- Bank statement loans in Hanover
- Bank statement loans in Johnstown
- Bank statement loans in Monessen
- Bank statement loans in East Stroudsburg
- Bank statement loans in Hazleton
- Bank statement loans in Williamsport
- Bank statement loans in Chambersburg
- Bank statement loans in Levittown
- Bank statement loans in Bloomsburg
- Bank statement loans in Uniontown
- Bank statement loans in Wilkes-Barre
- Bank statement loans in Pottsville
- Bank statement loans in New Castle
- Bank statement loans in Butler
- Bank statement loans in Norristown
- Bank statement loans in Chester
Common questions
What if I have both W-2 and 1099 income?
Lenders can often count both. The W-2 portion is verified the usual way, and the 1099 portion is documented through returns or a 1099 program, depending on how the loan is structured. Some non-QM programs are flexible about combining income types; others are not. Tell your loan officer about every source up front so they can choose a program that counts all of it.
Can I get a mortgage with only 1099 income?
You may qualify. Agency loans generally treat 1099 earners as self-employed and use tax returns, which works when your net profit is strong. If deductions make your returns look thin, a 1099 mortgage program can build your income from the forms themselves, adjusted by an expense factor. Lenders still verify deposits and assess ability to repay, and all loans are subject to credit approval.
How do 1099 mortgage lenders calculate my income?
Most programs total the 1099 payments over the period they review, apply an expense factor to estimate your business costs, and average the result into a monthly figure. Some accept a CPA, EA or licensed tax preparer letter with an expense figure specific to your business. That monthly figure is then compared with your debts, including the proposed housing payment.
Other non-QM options in Pennsylvania
Bank statement loansNon-QM lendersSelf-employedP&L loansAsset depletionNo-doc / stated incomeNew self-employedITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-only
Related guides
- 1099 vs. W-2 Income: How Mortgage Lenders See the Difference
- How to Get a Mortgage When You Are Self-Employed
- How Tax Write-Offs Affect Your Mortgage Qualifying Income
1099 Mortgage Loans overview · Pennsylvania non-QM overview
- Census ACS 2020-2024, table B24080