Home Buying in Lake Oswego>Question Details

Kevin Brown, Home Buyer in Lake Oswego, OR

Looking to purchase a new home and need financing

Asked by Kevin Brown, Lake Oswego, OR Sun Sep 9, 2012

I have been self employed for 1 year and I know that will be my biggest struggle in getting a loan. Is there any banks that will take 1 year of self employment or is there any other options?

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Jeff Nunley, CMPS’s answer

There are some programs that one require a year of self employment in certain circumstances. For example, did you go from W2 to private contractor but work largely with the same company? The best way to know whether or not you meet these criteria is to have a conversation with a Mortgage Professeional that knows, or can at least find, the guidelines that may meet your criteria.

If you need any help or have questions feel free to contact me.
0 votes Thank Flag Link Mon Sep 10, 2012
Most require two but Washington Federal holds their own loans and doesn't sell them on the secondary mortgage market so they can make internal decisions rather than being bound by Freddie and Fannie criteria. I'd give them a try.
1 vote Thank Flag Link Sun Sep 9, 2012
Much appreciated.
Flag Sun Sep 9, 2012
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