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Alternative
Income Documentation

Bank statements, 1099s, and asset-based lending for self-employed borrowers who don't fit the traditional mold.

Self-Employed

Business owners who write off significant expenses on tax returns

Gig Workers

Freelancers, contractors, and 1099 income earners

High Net Worth

Asset-rich individuals without traditional W-2 income

The Self-Employed Dilemma

You run a successful business. Revenue is strong. Your bank account proves it. But traditional lenders only look at your tax returns—where you've legally written off every expense possible.

The result? You look "low income" on paper, even though you make great money.

Our alternative income programs solve this. We look at your actual deposits, your 1099 income, or your assets—not just your taxable income.

Three Documentation Options

Choose the income verification method that works for you

Bank Statement Loans

Qualify with deposits, not tax returns

Perfect for self-employed borrowers who show strong revenue but write off expenses. Use 12 or 24 months of bank statements to qualify.

Loan Amount
Up to $4M
LTV
Up to 90%
Statements
12 or 24 months
Terms
Up to 40 years I/O

Program Highlights

Qualify using bank statement deposits—no tax returns needed
12-month or 24-month statement options available
Purchase or refinance—cash-out allowed
Loan amounts up to $4M (purchase), $3M (refinance)
Up to 90% LTV on primary residence
Fixed-rate, ARM, and interest-only options
Gift funds allowed for down payment
Cash-out proceeds can be used for reserves
40-year interest-only terms available
Primary residence, second home, or investment property

Ideal For

Self-employed business owners

Independent contractors with 1099 income

Small business owners

Entrepreneurs with high write-offs

1099 Loans

For independent contractors and gig workers

Designed for 1099 contractors. Show us your 1099s and bank statements proving year-to-date income—no W-2s or full tax returns required.

Documentation
1-2 1099 forms
FICO
640+ (2 scores)
Expense Factor
Only 10%
Gift Funds
Allowed

Program Highlights

Only 1 or 2 recent 1099s required
Bank statements showing YTD earnings
Low 10% business expense factor assumed
No full tax return documentation needed
640+ FICO—2 credit scores accepted
Fixed, ARM, and interest-only options available
Gift funds permitted for down payment
Cash-out proceeds can be used for reserves
Purchase or refinance eligible

Ideal For

Independent contractors

Freelancers and consultants

Gig economy workers (Uber, Lyft, DoorDash)

Contract workers with consistent 1099 income

Asset-Based Loans

Leverage your assets, not your income

Qualify based on liquid assets like stocks, bonds, retirement accounts, and savings. Perfect for retirees or high-net-worth individuals.

Loan Amount
Up to $2.5M
LTV
Up to 80%
Asset Calculation
Divided by 84
Cash-Out
Unlimited

Program Highlights

Qualify by dividing eligible assets by 84 months
No income verification required
Loan amounts up to $2.5 million
Unlimited cash-out amounts available
40-year interest-only terms available
Up to 80% LTV
Non-warrantable condos and condotels allowed
Gift funds permitted
Purchase or refinance transactions
Primary, second home, or investment property

Ideal For

Retirees with significant savings

High-net-worth individuals

Investors with large portfolios

Those with asset-rich, income-light situations

Traditional vs. Alternative

See how alternative docs differ from conventional lending

📄

Traditional Lending

  • ✕2 years tax returns required
  • ✕W-2 employment preferred
  • ✕All business expenses reduce income
  • ✕Rigid documentation requirements
  • ✕Self-employed often don't qualify
✨

Alternative Documentation

  • Bank statements or 1099s
  • Self-employed friendly
  • Looks at actual deposits
  • Flexible documentation
  • Asset-based options available

How It Works

The alternative documentation process is straightforward

1

Choose Your Program

Tell us your situation—bank statements, 1099s, or assets? We'll recommend the best fit.

2

Gather Documents

Provide 12-24 months of bank statements, recent 1099s, or proof of assets. Much simpler than traditional docs.

3

Get Pre-Approved

We review your income based on deposits or assets—not tax returns. Pre-approval in under 1 hour.

4

Close Your Loan

Standard closing process. We shop 12+ lenders to get you competitive rates despite non-traditional documentation.

Licensing Information

*Impact Lending Pros LLC is licensed to originate Alt-Doc loans for primary residences and second homes in CA only.

Investment property transactions are not available in the following states: AZ, ID, MN, NV, OR

Self-employed?
We've got you covered.

Get pre-approved with bank statements, 1099s, or assets. No tax returns needed.