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re: Financing a house as a 1099 (self-employed)
Posted on 1/1/14 at 10:06 pm to rlanders23
Posted on 1/1/14 at 10:06 pm to rlanders23
Yes I did but had just switched to owning my own business from working with a firm. All 1099 but brand new circumstances so more scrutiny was placed on us but in the end they gave us our loan and it was a jumbo loan at well so you might have luck with them. Our builder referred us to them because he had a relationship with them.
Good luck and I will pass on the info as soon as Tom responds.
Good luck and I will pass on the info as soon as Tom responds.
1
Posted on 1/1/14 at 10:27 pm to toots-N-scoots
When I first started my business it used to anger me that my employees could easily get house loans with W-2s we issued but I had to jump through bunches of hoops as a business owner.
Perhaps you should look for a short term loan from a community bank. I am sure there is one happy to make you a renewable 12 month loan.
As your income history improves as a contractor you will be able to get conventional financing.
Perhaps you should look for a short term loan from a community bank. I am sure there is one happy to make you a renewable 12 month loan.
As your income history improves as a contractor you will be able to get conventional financing.
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