Not unless you have a co-signer on the loan with qualifying income. Conventional Fannie Mae/Freddie Macguidelines typically require 2 years self-employment documented by tax returns (even if in the same line of work).
Please feel free to contact me directly if you need more help.
I wish most of my perspective buyers were as thorough as you with the details you have provided. I am an agent with Century 21 Alliance in Lafayette Hill and know that you will have no problem getting a mortgage. Like yourself, I am self-employed but I have been at it for 9 years. The facts you have given that make you eligible for a mortgage are that you have been in this related field for over four years. The banks consider this stable employment. I would put you in touch with either my in house mortgage lender or a direct lender whichever your preference. You would be able to consult with both to ascertain which company is offering the best deal for you. It is wonderful that you are considering a purchase since the interests rates are excellent at this time. You are also benefitting from a soft market. There are a number of terrific deals out there for a buyer who is willing to take the plunge and purchase. I have gotten some of my buyers some of the best purchases in terms of price. They will never loose on these purchases and since they are purchasing with a good equity postition, I can guarantee that they will never regret their purchase. When the market turns around their equity position will be very strong. You just have to remember to be patient in real estate. You see it is my thought that we are in year five of a fifteen year cycle. I can explain why I came up with this theory if you would like to consider doing business with me. I am an award winning agent for the nine years in which I have been an agent. If you think I could be of assistance in finding your dream home, I hope you will consider getting in touch with me. I look forward to speaking with you.
Eileen Gray, Century 21 Alliance, 215-603-8484 or 610-260-4049, firstname.lastname@example.org
Amy Shelanski, ABRÂ®, REALTORÂ®
Licensed PA Real Estate Salesperson (RS296298)
US Spaces, Inc.
222 W, Rittenhouse Square
Philadelphia, PA 19103
215.829.8850 x 205
Now FYI for previous post there are only two types of mortgage companies; mortgage bankers (also called mortgage lenders) and mortgage brokers. That is it because the only two ways to secure a loan for a borrower; Be the lender and underwrite and fund the loan yourself or be a broker and act as the middle man and shop for the best loan for your client from different banks who will underwrite and fund the loan.
Now a banker can also act as a broker if there is another bank offering a product they don't offer, they can broker the loan to that bank. One is not better than the other, it all depends on the individual loan officer and the service he or she offers.
If you would like to dicsuss you file and see exactly when you would be eligible for a loan please feel free to contact me at 610-906-3109
John R. Thomas
Certified Mortgage Planner
Primary Residential Mortgage
610-906-3109 PA Office
302-703-0727 DE Office
410-412-3319 MD Office
That's a great question you've posed. As stated already, your best bet is to speak to loan officer that can run your scenario through automated underwriting. That's the first step. Once you understand what you can/can't afford, your next step would be to find a RE agent that will meet your needs.
The majority of my professional background was spent in the mortgage industry, so if you have any additional questions, please feel free to contact me anytime. Based on what you have stated, I don't see why you would have a problem getting a loan; but again, you'll need to speak to a loan officer first. If I do not hear from you, best of luck with your search!
Timothy M. Garrity | Brown McKinney Real Estate, Co.
Real Estate Professional & Consultant
email@example.com Email| http://www.brownmckinney.com/tim Website
215-825-2250 x 1007 Office | 267-879-2716 Mobile | 267-519-5490 Fax
The professional that can help you most is not a real estate agent, or a banker or a mortgage broker. You need a mortgage lender. A mortgage lender is someone with a small firm that works directly with a variety of investors (including banks) and has their own underwriting department. The best in the area: Eileen Marolla with Philadelphia Mortgage Advisors, 610-834-8700. Eileen has put together conventional loans for clients of mine that no one else could. If you would like her cell number, please contact me directly as it would not be appropriate posting it in this forum.
215 500 2981
I think since you have been an attorney and working in the same field for 6 yrs and you can verify your income , you should qualify. I am the listing agent for The Phoenix at 1600 Arch ...it is a very large project . I am going to give you a number of a great vice president of a mortgage broker. His name is Larry Cohen at 215-546-0550. If anyone can get you a loan ..it is him. My project was undersold and when no one was able to give my clients a loan. He was able to get it done. Feel free to call me at 215-880-9274 . I would be happy to help you.
Coldwell Banker Preferred
It sounds to me that you would qualify for a mortage, but if you'd be willing to speak with my financial loan officer she will be able to determine the answer quickly. Email me your pone number and/or email and I wll reach out to you tomorrow.