Asked by bo_103083, Cleveland, OH • Sun Mar 3, 2013
So here's is the situation I am in. I am looking to purchase my first home. I have a credit score of a little over 700 and I have a down payment of at least 20%. Also, I have an investment portfolio. It's not tremendous, but it's between $10-15 thousand. The home is not very expensive. It's around $100,000. However, the problem is I was self-employed for the last 6 years, but the last 2 years, my income dropped to nearly nothing. I filed a tax return in 2011 and the accountant said I didn't really have to come in considering I didn't have enough taxable income at the time. Once the income started to slide, I went back to school. So technically I wasn't really employed because I was a student.
Now I am graduated and recently I started a new job. It pays fairly well, but I haven't been here for that long. Only 3 months. I am wondering how I can go about getting a mortgage loan soon due to my circumstances. Any suggestions?
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