Self employed applicants are being scrutinized like never before. Get your paperwork in order. Tax returns for the last two years. A year to date P&L certified by an accountant. Talk to a broker, but also talk to your bank. The underwriter can see your in and outs. Don’t let anybody tell you that a mortgage broker has an edge over a bank, after all, where does the broker get his money? A bank. You can play around with the numbers on my web site. There’s links to the state and city 1st time programs.

Adam,
In my opinion, a mortgage broker would be your best bet. Of course I am a little biased, but most mortgage brokers have the availability of many loan programs and Lenders to choose from. It would eliminate going from bank to bank to try and figure out if you could qualify for a mortgage as a self-employed borrower. Guidelines are much stricter now and it may be an uphill battle. A mortgage broker may just give you the edge that you need.
The very best of luck to you!

Michael

Michael D Delp
Mortgage Pro
4802 Old Bethlehem Pike,
Telford Pa. 18969
Ph- 215-453-1025
Fax- 215-453-1012
Cell- 610-762-0318
michaelddelp@aol.com
michaelddelp@verizon.net
http://www.mortgagepro.instantlender.com