Our program at a glance
- 600
- Minimum credit score (660 to use business deposits)
- 90%
- Max loan-to-value on a primary home
- $1M
- Lines from $50,000 to $1,000,000
- 12 mo
- Personal, business or combined bank deposits
Audi Garner · West Capital Lending · NMLS #190235 · Company NMLS #1566096
| Line amount | $50,000 to $1,000,000 |
|---|---|
| Credit score | From 600; 660 or higher to qualify on business deposits |
| Max loan-to-value | Primary home up to 90%; second home and investment property up to 85% |
| Income documents | Bank statements (as little as 12 months of personal, business or combined deposits), P&L, 1099 or asset-based |
| Property use | Primary residence, second home or investment property |
| Property types | Single-family, condo and 2–4 units |
| Lien position | 1st or 2nd lien, and 3rd lien in some cases |
| Title | Individual, joint, trust or LLC |
| Draw period | Up to 10 years |
| Repayment period | Up to 30 years |
| Payment options | Interest-only during the draw period; fixed-rate options available |
| Appraisal | Automated home value on most options |
| Closing | As fast as 5 days |
| Debt-to-income | Up to 50% |
Program terms as of November 2026. Variable rate with fixed-rate options. Not a quote or a commitment to lend; approval, line amount and rate depend on credit, income, the property and the program.
Quick answer
A 1099 HELOC qualifies you on the income shown on your 1099 forms, typically less a standard expense factor, instead of the net profit on your tax return. Most programs want 1–2 years of 1099s from the same line of work. Our program allows debt-to-income up to 50%, can go up to 90% combined loan-to-value in certain cases, and considers credit scores down to 600 with compensating factors.
- Documents: 1–2 years of 1099s plus proof of year-to-date income.
- Income math: 1099 income less a standard expense factor, or bank deposits, instead of Schedule C net profit.
- Time in the field: 2 years preferred; 1 year can work with strong cash flow.
- Limits: DTI up to 50%, combined loan-to-value up to 90% in certain cases, credit down to 600 with compensating factors.
Requirements at a glance
| Requirement | Most lenders | Our program |
|---|---|---|
| Income documents | 2 years of tax returns (Schedule C net profit) | 1–2 years of 1099s plus proof of year-to-date income |
| How income is counted | Net profit after all write-offs | 1099 income less a standard expense factor, or bank deposits |
| Time in the field | 2 years | 2 years preferred; 1 year can work with strong cash flow |
| Debt-to-income | 43–45% or lower | Up to 50% |
| Combined loan-to-value | 80–85% | Up to 90% in certain cases |
| Credit score | 620–680+ | Down to 600 with compensating factors |
Typical industry ranges as of October 2026. Our program terms depend on credit, property, occupancy, and the full file; not a commitment to lend.
What is a 1099 HELOC?
A 1099 HELOC is a home equity line of credit built for people who are paid as independent contractors: real estate agents, loan officers, consultants, nurses and therapists on contract, truck drivers, and gig workers. Instead of reading the bottom line of your Schedule C, the lender starts from the gross amount on your 1099 forms and subtracts a standard expense factor. Your actual deductions, like mileage, home office, and equipment, don't reduce your qualifying income the way they do at a bank.
Everything else works like a normal HELOC: you get a revolving line, draw what you need, and pay interest only on what you use. If most of your income arrives as deposits rather than 1099s, the bank statement HELOC may fit better.
Example: why your 1099 beats your tax return
A real estate agent earns $180,000 in commissions, all reported on 1099s. After mileage, marketing, licensing, a vehicle, and a home office, her Schedule C shows $62,000 of net profit.
| Item | Tax-return HELOC | 1099 HELOC (example) |
|---|---|---|
| Starting income | $62,000 net profit | $180,000 on 1099s |
| Expense factor | Already deducted | 10% ($18,000) |
| Qualifying income | $62,000 ($5,167/mo) | $162,000 ($13,500/mo) |
| Max total debt payments at 50% DTI | $2,583/mo | $6,750/mo |
Illustrative only. Expense factors vary by program; some lenders use your actual expenses or deposits instead.
Who it fits
- Real estate agents and loan officers paid on commission
- Consultants, contractors, and freelancers paid on 1099s
- Healthcare workers on contract (travel nurses, therapists, locum physicians)
- Truck drivers and gig workers with steady 1099 income
- Anyone whose write-offs make their tax return look far smaller than their pay
How it works: 3 steps
- Get a rate estimate. Soft credit pull only. Tell us the property, what you owe, and how you earn; we tell you which path fits and what line size to expect.
- Send your documents. Usually your last 1–2 years of 1099s, a recent statement or pay record showing year-to-date income, ID, your mortgage statement, and homeowners insurance. We review them before anything is ordered, so you know where you stand early.
- Close and draw. Many files use an automated valuation instead of an in-person appraisal. Timing depends mostly on valuation, title, and how quickly documents come in.
Related programs: self-employed HELOC · bank statement HELOC · P&L HELOC · 1-year self-employed HELOC
Watch: strong business, low tax-return income
A 5-minute conversation for established business owners with strong deposits, solid equity and good credit. Example figures are illustrative, not a quote. Created with AI avatars.
Frequently asked questions
Can I get a HELOC with 1099 income?
Yes. A 1099 HELOC qualifies you on the income shown on your 1099 forms, usually less a standard expense factor, instead of the net profit on your tax return. That usually means a much higher qualifying income for contractors and agents with large write-offs.
How many years of 1099s do I need?
Most programs want 1-2 years of 1099s from the same line of work. Two years is standard; our program can work with 1 year of self-employment when cash flow is strong, especially if you worked in the same field before.
Do I need to provide tax returns for a 1099 HELOC?
On a 1099 program, your 1099 forms and proof of year-to-date income replace the full tax-return analysis. Some lenders still ask for an IRS transcript to confirm the 1099s. If your returns show strong income, a full-documentation HELOC may price better, so it's worth comparing both.
Are 1099 HELOC rates higher?
Usually a little. 1099 and other alternative-documentation HELOCs typically price about 0.5-1.5 percentage points above a comparable full-documentation HELOC, depending on credit and loan-to-value.
What if I have both W-2 and 1099 income?
That's common. The lender can combine W-2 pay with 1099 income. Each source is documented its own way, and the total is used for debt-to-income, which can go up to 50% on our program.
Which states is the 1099 HELOC available in?
Audi Garner (NMLS #190235, West Capital Lending NMLS #1566096) is licensed in 23 states: Alabama, Arizona, Arkansas, California, Colorado, DC, Florida, Hawaii, Idaho, Iowa, Kansas, Maine, Maryland, Minnesota, Missouri, North Dakota, Oregon, Pennsylvania, South Dakota, Tennessee, Virginia, Washington, and Wisconsin.
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Related HELOC resources
Bank Statement HELOC
Qualify on 12–24 months of deposits.
Self-Employed HELOC
Every documentation path for business owners.
Self-Employed HELOC Guide
How lenders read self-employed income.
