No income verification mortgages. No tax returns, W-2s or pay stubs.
A no income verification mortgage does not mean your income goes unverified. It means the lender verifies it without personal tax returns, W-2s or pay stubs, using 1099 totals, a profit and loss statement prepared by an accountant, or a verification form completed by your employer instead. Credit, funds to close, reserves and the appraisal are still reviewed on every file.
Most people land here after a decline. The business is fine, the money is real, and a full documentation lender read a lean tax return as a lean income. There are three routes past that, and which one gives you the most depends entirely on how you are paid. Tell us how the money reaches you and we will tell you which route your file fits.
Who it's for
A fit if you're…
A 1099 contractor or gig worker with no W-2 to hand over
A business owner whose accountant has reduced taxable income to a fraction of the revenue
Paid by an employer, but with earnings a pay stub does not capture cleanly
Already declined once because a tax return did not reflect the real income
Holding strong credit and a real down payment, with the income documentation as the only obstacle
A non-permanent resident, on select programs
No personal tax returns, W-2s or pay stubs
Income is documented from 1099s, a profit and loss statement, or an employer verification form instead.
Income is still verified
This is alternative documentation, not absent documentation. Every route produces evidence a lender reviews.
1099 route to 90% leverage
Credit from 620 and loan amounts to $4M, and higher on some programs.
Accountant-prepared profit and loss
Prepared by a CPA or enrolled agent. No bank statements required on select programs.
Employer verification route
A completed verification form plus about two months of bank statements, on select programs.
Non-permanent residents
Financing available on select programs, with documentation of status.
What "no income verification" actually means
Read the phrase literally and it promises something no lender offers. Federal rules require a lender to make a reasonable determination that you can repay the loan, so your income is verified on every mortgage. What varies is which documents do the verifying. On a full documentation loan it is tax returns, W-2s and pay stubs. On these programs it is 1099 totals, a profit and loss statement prepared by an accountant, or a form your employer completes. The rest of the file is unchanged: credit is pulled, funds to close and reserves are verified from statements, the property is appraised, and entity documents are collected if you are buying in an LLC. We are being blunt about this because the alternative is a surprise at the conditions stage, when a file that was sold to you as no verification suddenly asks for evidence. Nothing here is a stated income loan, and the pre-2008 version of that product no longer exists.
Income is verified on every route, from documents other than tax returns
No personal tax returns, W-2s or pay stubs are required on these programs
Credit, funds to close, reserves and the appraisal are reviewed as they would be on any mortgage
These are non-QM programs made by lenders who set their own income rules within federal ability-to-repay requirements
This is not a stated income loan, and it is not a no-documentation loan
Each route answers the same question, which is what you actually earn, using a different document. Figures below are what exists across our lender network on select programs rather than universal rules, and the combination available to you depends on your credit, the property and the lender we place the file with.
1099 only
For contractors, gig workers and commission earners paid on 1099s rather than a salary. You hand over 12 or 24 months of 1099s. The lender totals them, applies an expense ratio to allow for the cost of doing business, and uses the result as qualifying income. No tax returns, W-2s or pay stubs. Credit from 620 on select programs, leverage to 90%, and loan amounts to $4M and higher on some programs.
Accountant-prepared profit and loss
For business owners whose deposits are messy or whose books tell the story better than the bank does. You hand over a profit and loss statement covering 12 or 24 months, prepared by a credentialed preparer such as a CPA or an enrolled agent. On select programs no bank statements are required alongside it. Credit from 660, leverage to 80%, and loan amounts to $3M.
Employer verification
For borrowers who do have an employer, but whose pay stubs and returns do not present their earnings cleanly. Your employer completes a written verification of employment form stating your position, dates and earnings, and you provide about two months of bank statements. No tax returns, W-2s or pay stubs. Credit from 660, leverage to 80%, and loan amounts to $3M.
Most borrowers qualify under more than one route, and the answer is rarely obvious, because the same person can look strong on one document and thin on another. The rule of thumb is to follow how the money reaches you. If nearly all of it arrives on 1099s, that route usually produces the highest income figure and it carries the highest leverage of the three. If you run a business with real costs and a good bookkeeper, an accountant-prepared profit and loss statement often reads better than raw 1099 totals, because the expense ratio a lender assumes may be harsher than your actual costs. If you are on someone's payroll, the employer verification route is usually the shortest path, since one form does the work. It is worth testing more than one before you pick a lender, which is the practical reason to run this through a broker rather than a single lender's rule set.
Paid mostly on 1099s: the 1099 route usually gives the most income and the most leverage
Running a business with real expenses and clean books: the profit and loss route often reads better
On an employer's payroll: the employer verification route is usually the fastest to document
Deposits tell the story best: use a bank statement loan instead, which averages 12 or 24 months of deposits
Buying a rental: a DSCR loan may skip documenting your income altogether
Availability, expense ratios and leverage vary by lender, so more than one route is worth pricing
Deposits are the most common answer of all, and they have their own page. Bank statement loans average 12 or 24 months of deposits and apply an expense factor to reach qualifying income, which suits a business whose money moves through the account cleanly. If you are not sure whether your deposits or your 1099s present you better, that is exactly the comparison to run before you pick a lender.
If the property is an investment rather than a home you will live in, your own income may not need documenting at all. DSCR loans qualify the property on the rent it collects, and no-ratio DSCR loans carry no minimum ratio at all on select programs, up to 75% loan-to-value, when the rent does not fully cover the payment.
Pricing is typically higher than on a full documentation loan, because the lender is doing more work to verify income.
Income is verified on every route. If anyone offers you a mortgage with no income documentation at all, treat that as a reason to ask more questions.
The expense ratio a lender applies to 1099 totals can move your qualifying income substantially, so ask what it will use before comparing rates.
A profit and loss statement has to come from a credentialed preparer. A statement you produce yourself is generally not accepted.
An employer has to be willing to complete the verification form, and some will not.
Credit minimums, leverage, loan limits and documentation rules vary by lender and by file, and nothing here is a commitment to lend or an offer of credit.
FAQ
Questions buyers actually ask
What is a no income verification mortgage?+
It is a mortgage where the lender verifies your income without personal tax returns, W-2s or pay stubs. The name is misleading: income is still verified. It is verified from other documents instead, usually 1099 totals, a profit and loss statement prepared by an accountant, a verification form completed by your employer, or bank deposits. Credit, funds to close, reserves and the appraisal are all reviewed as normal.
Are there still no income verification mortgage lenders?+
Yes. What no longer exists is the pre-2008 stated income loan, where a borrower wrote a number on a form and nobody checked it. Today's programs are made by non-QM lenders who set their own income rules within federal ability-to-repay requirements, so the income has to be documented, just not with tax returns. We shop these programs across our US lender network.
What are no income verification mortgage rates?+
We do not publish a rate. Pricing is assembled from your file and moves with the market daily, and it is typically higher than on a full documentation loan because the lender is doing more work to verify income and carries more risk. Credit tier, leverage, occupancy, property type, loan size and which documentation route you use all move it. We shop the file and show you the actual numbers side by side.
Can I get a mortgage with only 1099 income?+
Yes, on select programs. The lender takes a 12 or 24 month total of your 1099s, applies an expense ratio to allow for business costs, and uses the result as qualifying income. No tax returns, W-2s or pay stubs are required. Credit from 620 and leverage to 90% are available on select programs, with loan amounts to $4M and higher on some.
Can I use a profit and loss statement to get a mortgage?+
Yes, on select programs. The statement must be prepared by a credentialed preparer such as a CPA or an enrolled agent, and it typically covers 12 or 24 months. Some programs require no bank statements alongside it. Credit from 660 and leverage to 80% are available on select programs, with loan amounts to $3M.
What is a WVOE mortgage?+
WVOE stands for written verification of employment. It is a form your employer completes stating your position, dates of employment and earnings. On select programs that form, plus about two months of bank statements, replaces tax returns, W-2s and pay stubs entirely. Credit from 660 and leverage to 80% are available on select programs, with loan amounts to $3M.
Do I still need good credit?+
Credit is always reviewed, and it matters more here than on a full documentation loan because it is doing more of the work. Depending on the route, credit from 620 or from 660 is available on select programs. A higher score generally improves pricing and the leverage a lender will offer. There is no credit pull to start a conversation with us; a credit check happens later, with your permission, when you formally apply.
Can I buy an investment property this way?+
Yes, and there may be a simpler route. On a rental property, a DSCR loan qualifies the property on the rent it collects rather than documenting your own income at all. If the rent does not fully cover the payment, select no-ratio programs carry no minimum ratio up to 75% loan-to-value.
Tell us how you are paid.
A 3-minute application. No credit pull to start. A rate estimate from a broker shopping 40+ lenders for you.
