NMLS # 6395
Financing Kentucky One Home at a Time
Sr. Loan Officer, NMLS 180426
PrimeLending, A Plains Capital Company
Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
http://www.lynn911.com 100's of Dallas homes listed for sale or lease
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You probably will need to budget off of your husband's income, you'll probably need to show 2 years' of tax returns with a Schedule C to demonstrate a history of being self-employed. Cash is not your friend if trying to qualify for a mortgage regardless of which direction the money is flowing.
For self-employed borrowers my program does still use 'light doc' in that I can accept 12 months of bank statements to show the cash flow, unlike any bank that I'm aware of.
Mortgage Counselor - NMLS 280951
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas
Providing Solutions Because...Your Move Matters!
Michael L. Brownstead, GRI, ABR
Keller Williams Realty
1002 Raintree Cir., Ste. 100
Allen, TX 75013
Good question.. You sound like a good candidate to get qualified, talk to a lender who can guide you as to the best type of loan and obtain additional information to qualify for a loan. Lenders basically want to assess the risk level and ability to pay the mortgage every month.
Simply put...a stable income for 2 years in a similar field is what lenders will ask for as one of the criterias, the rest will include credit score, debts, loans, savings,downpayment etc. Your husband should qualify if he has been employed for 2 or more years as most likely being the primary loan applicant.
More information regarding your income, prior work history since yours is a personal small business will be required. A letter from your employer will help and bank statements showing your earned income, lender may have more questions.
There are various financing programs available to you, lease to purchase options available, Usda loans with zero downpayment if purchasing available in qualified cities, FHa loans with minimum 3.5% down etc
If you would like further information and guidance, please email me at firstname.lastname@example.org, call or text my mobile 972 814 3682
Jamuna Thill, Realtor