1099 & Locum Tenens Physician Home Loans
Hospitalists, locum tenens physicians and practice contractors — qualify without the 2-year 1099 wait.
Apply NowContract income, not two years of tax returns
Most lenders make independent contractors wait two years before 1099 income counts. With the physician program, hospitalists, locum tenens physicians and practice contractors do not need the typical 2-year self-employment seasoning. If your executed contract defines base compensation (hourly, shift rate, per unit or assignment) and the absence of unreimbursed business expenses is documented, qualifying income can come from your projected first 12 months of earnings.
What the contract must show
- Compensation rates — salary, hourly, per unit or assignment
- Minimum expected production or hours
- Documentation supporting gross income for the first 12 months
- A contract or institutional letter confirming no required unreimbursed expenses (routine licensing, CE credits and association dues excluded)
- A start date within 60 days of closing
If prior 1099 tax filings show unreimbursed business expenses, standard self-employment rules apply.
Physician loan matrix
Up to 100% financing
0% down payment (100% LTV) — no private mortgage insurance at any down payment.
$100,000 – $1,500,000
680 minimum FICO (1 score) · 3 months PITIA reserves above 95% LTV · 3% max seller concessions.
$1,500,001 – $2,000,000
720 minimum FICO (1 score) · 6 months PITIA reserves above 95% LTV · 3% max seller concessions.
Terms
15, 20, 25 and 30-year fixed · 5/6, 7/6 and 10/6 ARMs.
How to get your doctor home loan
Frequently Asked Questions
Can a locum tenens physician get a mortgage?
Yes. Income can be based on the executed contract’s projected first-12-month earnings, without a 2-year 1099 history.
What if I have past 1099 expenses on my tax returns?
Then standard self-employment documentation applies.
Do hospitalists qualify?
Yes — hospitalists, locum tenens physicians and practice contractors.
How soon must the contract start?
Within 60 days of closing.
Working on contract? Let’s qualify you on it.
Apply NowGeneration Mortgage Associates, LLC · 1155 South Pasadena S, Suite H, South Pasadena, FL 33707 · Call (727) 642-1166 · Monday–Friday, 9:00 AM–5:00 PM EST · NMLS 1283562. Program guidelines can change; all loans are subject to credit approval and underwriting.