A mortgage made for contract workers
Home loans for contract workers
Inconsistent or difficult-to-document income can make it a challenge for contract, or 1099, workers to qualify for a loan with a traditional lender, but Quontic’s Community Development Loans may be able to help you make your dream a reality. We simplify the complicated process. The requirements to get a mortgage as a contractor are flexible, with a minimum FICO credit score of 640 and the option to use gift funds to cover up to 100% of your downpayment and closing costs.
Simpler mortgages for contract workers
Community Development Loans
100% gift funds accepted for down payments and closing costs on investment property loans
Up to $726,200*
Up To $3,000,000**
Minimum FICO score required
Minimum down payment required
As low as 3%
Information in this chart is applicable to the purchase of a primary residence only.
*The Federal Housing Agency based on single unit as of January 1, 2023
**A loan up to $3,000,000 requires minimum 30% down payment and minimum FICO score of 740 for qualified applicants.
***20% Down payment required minimum 660 credit score and has a maximum $1.5 million loan amount.
A home loan to match your mindset
12 Month CPA / Tax Prepared P&L accepted
As a CDFI, we accept alternative income documentation to qualify, not just tax returns or W2s
Recognized as a top mortgage lender
Frequently Asked Questions
1All lending products are subject to approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. This does not represent an offer to enter into a loan agreement. Other requirements, restrictions & limitations apply. Information is accurate as of December 14, 2022 & is subject to change without notice.