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A mortgage made for contract workers

As a contract worker, you may think it will be difficult to get a mortgage, but qualifying for a home loan may be easier than you think. Quontic’s Non-Traditional Mortgages1 were created with borrowers like you in mind. Even if you don’t have the types of documentation other lenders require, we may be able to help.

See if you pre-qualify
Or, speak to a mortgage specialist.
Google rating: 4.5 of 5 stars
Top Mortgage Lenders Scotsman Guide
Zillow rating: 4.9 of 5 stars
Top Mortgage Lenders Scotsman Guide

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 Non-Traditional Mortgages 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 660 and the option to use gift funds to cover up to 100% of your downpayment and closing costs.

Simpler mortgages for contract workers

In 2015, Quontic became a US Treasury-designated Community Development Financial Institution (CDFI) and began its journey to help those who don’t fit the traditional mold. With the CDFI designation, we can accept alternative documentation from borrowers with strong credit and a substantial down payment to qualify. We take your full financial profile into consideration, not just W2s, tax returns and bank statements.
Conventional
Loans
Non-Traditional Mortgages
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Flexible income
documentation required

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100% gift funds accepted for down payments and closing costs on investment property loans

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Loan amounts

Up to $766,550*
Up To $3,000,000**
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Minimum FICO score required

620
660
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Minimum down payment required

As low as 3%
20%***

Information in this chart is applicable to the purchase of a primary residence only.

*The Federal Housing Agency based on single unit as of August 27, 2024

**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

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12 Month CPA / Tax Prepared P&L accepted

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As a CDFI, we accept alternative income documentation to qualify, not just tax returns or W2s

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Only 1 year of consistent self employed income and in the same line of business for two years

Recognized as a top mortgage lender

Quontic’s loan officers help make the loan process simple and seamless. With mortgage experience across multiple loan programs spanning decades, they are a diverse and multi-lingual team ready to walk you through each step of the mortgage process. And with hundreds of 5 star reviews from our customers, you can trust you’ll get a customized experience that makes your purchase or refinance goals a reality.
Speak to a mortgage specialist
"I was extremly happy with the service that my loan officer and her team provided during my home purchase. These outstanding ladies were friendly, knowledgeable & responsive to every question I had about my loan throughout the entire process which alleviated a lot of stress for me. I would definitely be thrilled to work with them again if needed in the future."
- Tiffanie C.
"Excellent! I can’t believe it, I got my new home on time, 30 years fixed rate and no income check! I live in California, no matter they are in NY, all process we are doing by phone and email. They are professional. They know what documents need and help you to reach it. Thank so much to them!"
- Ng Kyle C.
"Despite having a substantial down payment and excellent credit score, I was turned down by other institutions because I did not meet their income requirements, so I called Quontic Bank. They specialize in loans that are made for investors or buyers who cannot meet conventional mortgage requirements. Thank you, Quontic."
- James C.
"I had a great experience with my loan officer. Everyone was responsive, thorough, and professional. They were able to provide a loan based on my specific needs, which was not possible through other lenders. Highly recommend and will be coming back again in the future."
- James L.
"Our Loan Officer provided exceptional customer service and complete transparency throughout the entire loan process. Even in this challenging environment, they were able to get my loan approved in the timely fashion I required. I was extremely satisfied with the entire process and would highly recommend them to anyone looking for a home loan."
- Joe

Frequently Asked Questions

The first step is to get pre-qualified. Tell us more about you in 60 seconds or less so we can connect you with a Quontic mortgage specialist. https://www.quontic.com/mortgages/cdl-mortgage-prequalify/
Gift funds are monetary gifts a borrower receives from generous relatives to use towards the down payment and/or, possibly, other costs associated with purchasing a home. Funds received from grants or financial assistance companies cannot be used as gift funds. To learn more about gift funds, check out our guide “Using Gift Funds For A Down Payment”.
Yes, Quontic accepts 100% Gift Funds for down payment and closing costs for our Community Development Loans for eligible applicants.
At Quontic, you’re more than just a loan application. We value all our customers’ diverse situations and embrace them with specialized mortgages made to fit their needs. Plus, in addition to being registered to lend in all 50 states, we offer a diverse and multi-lingual sales team, an experienced Mortgage Specialist at every step and convenient and helpful customer service.
Getting pre-qualified for a mortgage helps you understand how much home you can afford and shows that you are a serious buyer. It also helps you find a lender that can work with you to select the right home loan with an interest rate that fits your needs.

Mortgage insights for contract workers

Disclaimer:

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 August 15, 2024 & is subject to change without notice.

Bankrate is a registered trademark of Bankrate, LLC. Google and the Google logo are registered trademarks of Google LLC. Zillow is a registered trademark of Zillow, Inc.
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