Financing in 33914>Question Details

Deanna1014, Home Buyer in

Is it possible to get mortgage approval with less than 2 years employment history with the same company?

Asked by Deanna1014, Sun Jun 24, 2012

I have excellent credit (over 800), 20% or more down payment but have been told by a few lenders that my employment history will prevent me from being approved. I became self-employed in 2009, but in 2010 I worked for a company instead of on my own, and then in 2011 went back to self-employment and I'm currently bringing in self-employed income here in 2012 as well. I've been told to wait until my next tax return to apply, but I'm anxious to get moving on a house now... Any hope for me?

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Yes, self employment makes it tricky since they will want to average 2 years. Definitely speak with a few lenders to compare information. Things are constantly changing and you never know if one lender is ahead of the others with the latest. If you would like me to send you a knowledgeable direct lender, feel free to contact me.
1 vote Thank Flag Link Wed Aug 14, 2013
Self Employed.....

They make it difficult it difficult. You need to speak with our mortgage person.
1 vote Thank Flag Link Mon Jun 25, 2012
If you were self employed in 2011, then what you were told is correct. You will need to show 2 years' of tax returns showing S/E income.

Additionally, they are going to average what they show for both years. Seeing that you have a partial year of income for 2011, your calculated income will be "watered down."
0 votes Thank Flag Link Sun Oct 27, 2013
There may be extenuating circumstances. Only a lender can look into your situation and advise you.
0 votes Thank Flag Link Wed Aug 14, 2013
There may be a possibility for you to get qualified if you can show that the job you took was in the same line of work. Also may be a chance to be approved if you have long term contracts that you offer services to? Tell them A.D. sent you.

Shane Hulslander

Premier Mortgage Consultants
Public Relations Manager
877-276-8323 toll free
239-542-8800 office
866-739-3020 fax
239-910-7829 cell
0 votes Thank Flag Link Wed Aug 14, 2013
You can probably find some sort of loan out there. In Southwest Florida, most lenders require 2 years income though.

For amazing mortgage advice, be sure to call Cape Coral Mortgage at 239-540-5555 and ask for Tracy or Jamie! =)

Good Luck
0 votes Thank Flag Link Sat Aug 3, 2013
Everyday we speak to self-employed people here in California that are successful and have good credit but are routinely turned down by banks and brokers when applying for a loan to purchase or refinance their home.

The typical problem that self employed people run into is that they write off business expenses on their income taxes each year. It's a catch 22. If you write off most or all of your businesses expenses, it appears to a mortgage lender that your yearly net income isn't sufficient. On the other hand, if you do not claim many write offs for expenses, you immediately set yourself up for paying higher income taxes.

However, that no longer has to be an issue in your search for a home loan. We can now help locate specialized loan products tailor-made for self employed and high net asset clientele in California only.

We have access to new mortgage options such as:

1. 12 months of business or personal bank statements

2. 1 year tax returns (no more 2 year averaging)

3. Substantial assets

4. No income ratio for loans under 50% LTV

In the past, a majority of self employed people would simply seek out a stated loan in order to purchase or refinance property. After the housing and mortgage meltdown, many of these loan programs simply disappeared. Lenders soon became more stringent with their lending guidelines and it became subsequently harder for people who owned their own businesses to qualify for financing. Now that the real estate market is making its way back, a small number of lenders are now expanding their guidelines to become more attractive to certain buyers who have been neglected.

Give us a call at 800-598-9790 or visit for more details
0 votes Thank Flag Link Thu Jul 25, 2013
Call Dawn Houser....attached is her info
0 votes Thank Flag Link Mon Jul 1, 2013
Deanna, the answer is yes. There are other considerations but generally speaking that is not a problem.
0 votes Thank Flag Link Mon Jul 1, 2013
Hi Deanna,

Please feel free to contact me and I will put you in contact with a mortgage professional that I have utilized to help my customers get loan qualified for a purchase. I look forward to hearing from you and helping you reach your goal of home ownership.

Please read my news hub article about getting your finances in order at:

Again, look forward to hearing from you soon and hopefully things will work out before interest rates rise again!!


Therese A Clapp, Realtor® GRI, ABR, MBA
BROKER Associate

The Clapp Team
Century 21 Sunbelt Realty, Inc.
725 Cape Coral Pkwy W
Cape Coral, FL 33914
Primary Tel: 239-542-4777

Visit my website for more information about financing and programs you may qualify for.
0 votes Thank Flag Link Mon Jul 1, 2013
Hey Deanna,

That can definitely be a frustrating situation. Call Kim Martini at Cape Coral Mortgage. Cape Coral Mortgage has done some financing miracles for me in the past. I've seen them find ways to get financing for situations much worse than yours. I'm sure they'll be able to help you. You can reach them at 239-540- 5555. Let me know if there's anything else I can help you with.

Good luck,

Mike Lombardo
Web Reference:
0 votes Thank Flag Link Mon Jul 1, 2013
There are finance options for you, but you will need to speak with a lender directly about getting pre-approved. Below are three GREAT finance professionals I highly recommend.

Please contact me for your Real Estate services. I go beyond the conventional expectations of my customers by locating the perfect property that fits your needs, negotiating the best deal possible and protecting your interests every step of the way. Call me and lets talk about how I can help you find a house you will love.


Terence Trombetti • Realtor®
Gulf Coast Realty Network
4002 Del Prado Blvd. S.
Cape Coral, FL 33904
Mobile 239.560.1574


Kim Martini
Cape Coral Mortgage Company
Direct: (239) 540-5555

Jane Wingate
Gulf Coast Mortgage
Direct: (239) 263-9921

Anthony Ottaway
Executive Purchase Banker
Direct: (313) 373-1548

*Contact me for a current list of active properties that fit your needs. Conventional, foreclosure and short sales. All properties I send come directly from the Realtor's MLS system and therefore are real-time current information, only active and available homes.

See my customer testimonials here:

**If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks.
0 votes Thank Flag Link Wed May 22, 2013
Absolutely! We do it all the time!
0 votes Thank Flag Link Mon Jun 25, 2012
Hi Tracy, you are actually one of the four lenders I contacted! You told me it was not possible and to wait until I had two years and get in contact with you again then!
Flag Mon Jun 25, 2012
Deanna: Great question- there are a couple ways to go- contact a few mortgage people or contact a realtor to see if there home - owners out where you are searching, to see if you can do a lease option .
This way you have at least a few more options besides being told NO- And when you are ready E-mail me at: or call me at: 239-246-6933. My name is Doglas Pelton of Blackburn Realty, Inc.- Have a fantastic search- Doug
0 votes Thank Flag Link Mon Jun 25, 2012
Hello Deanna,

please contact me at your earliest convenience to determine your qualification for a Mortgage Loan.

Best Regards,
Beate Rodriguez
Lic. Loan Originator
Cell: 954.695.4849
0 votes Thank Flag Link Sun Jun 24, 2012
-Your best course of action is to contact a local mortgage broker and find out what options are available for you.

I have been selling real estate in Cape Coral/Fort Myers for over 10 years and have an excellent mortgage person that I suggest you talk to:

Brian Fulton
Tomasso Mortgage

Brian offers superior customer service to all his clients.

Julie Kubic
Century 21 Sunbelt Realty, Inc
725 Cape Coral Pkwy W
Cape Coral, FL 33914
0 votes Thank Flag Link Sun Jun 24, 2012
It is possible to get approved for a conventional mortgage with 1 year of tax returns for self employed individuals. The automated underwriting (AU) would have to come back only requiring the 1 year and you would have to be with a lender that has no additional overlays to Fannie Mae guidelines. Your best best will be with a broker that can place this somewhere because the large banks are not going to be the place for this. Since you have a credit score over 800 and 20% down you very well may get the AU finding that will allow this. Find a good mortgage broker in Florida to assist you and make sure they are competent and know that this is indeed possible.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Sun Jun 24, 2012
Hi Deanna,

Here is a link from the National Association of Realtors website regarding helping clients with credit scores.I hope the article is helpful:…

Or visit this link to my website for more tips on buying and special government programs:

When you are ready to buy, think of me ~ I would be more than happy to help!

To learn more about me and my commitment to customers please visit my website at: or

Good luck!!


Therese A Clapp, Realtor®
Century 21 Sunbelt Realty, Inc.
725 Cape Coral Pkwy W
Cape Coral, FL 33914
Primary: 239-542-4777

- 2012 REALTOR® Leadership Academy ~ Participant
- 2011 Platinum Five Star Education Award ~ Recipient
- Community of REALTOR® Excellence ~ Member
- Real Estate Buyers Agent Council ~ Member
- Graduate Realtor Institute ~ Designation
- Short Sale Foreclosure Resource ~ Certification
- At Home With Diversity ~ Certification
- Real Estate Property Management ~ Certification
0 votes Thank Flag Link Sun Jun 24, 2012
Hi Deanna, It seems like you have good credit and little complicated employment history. If this is your first home, I have a special primary lender who can review your situation and tell you if you may buy home now. I have worked with this specialist for over 20 years and she is very good and helpful to buyers. Please contac me and I would get you in touch with her. Thanks.
0 votes Thank Flag Link Sun Jun 24, 2012
My understanding with self employed income is that you have to have two years/tax returns continuously. It wouldn't hurt to call as many lenders as you can (I would steer clear of the big box lenders, ie Bank of America, Chase, Wells Fargo etc and talk to mortgage brokers). Give them a copy of your credit report and explain your situation, see if they can get a desktop underwrite preapproval or a manual underwrite preapproval. If you can accomplish that then it's time to put your shoppin' shoes on!
0 votes Thank Flag Link Sun Jun 24, 2012
Anything is possible Deanna! It sounds like you have a lot of good things going for you, let me know if I can help.

Frank Glaab
Gulf gateway realty, inc
0 votes Thank Flag Link Sun Jun 24, 2012
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