They can but it would be much easier using our 1099 income program. Bank Statement loans were designed for true business owners. So, an independent contractor earning 1099 wages is technically not self-employed. If the employer pays the applicant in 1099 wages, then the only time the applicant is considered self-employed is by the IRS when they file tax returns, and neither of these two programs uses tax returns. If applicants receive 1099 wages, a 1099 Income Program is designed more for this type of income and may end up giving them more income—and even greater buying power than they would with a Bank Statement Loan. The two programs are remarkably similar, in terms of minimum down payment, minimum credit scores, etc.