Refinance with 1099 Income?

[inquisitive]

I am looking to refinance a personal residence that has an appraised value well over the mortgage value and have been having some difficulty due to the fact that I receive 1099 income. I am NOT self-employed per IRS regulations and did not file as self-employed last year. However, regardless of the details, it seems that lenders do not want to accept 1099 income. I have had continuous employment for some time and have plenty of income if the 1099 would be considered. Also have savings, etc. Has anyone refinanced this way and have advice? I am thinking of going to local credit unions as going through major lenders does not seem to work. If I had known it would be a problem I might have just refinanced when I was receiving W2 income, but I took an even better position now but did not know about this caveat.

 

[samclem]

I receive 1099 income, am self-employed, and USAA included that income when qualifying me for a recent re-fi. If your tax paperwork is in order and you have an earnings history, I can't see why this would be a problem. Small business owners are able to re-fi and they often have less documentation than a 1099.
Good luck.