Yes you are going to have a difficult time obtaining a loan right now since not only don't you have a 2 year history of commissions, you've only been working for a year. You are going to need at least one full year of commissions to even be considered for a mortgage. Below are Conventional and FHA guidelines, direct from Fannie Mae and FHA's underwriting manuals
A minimum history of 2 years of commission income is recommended; however,
commission income that has been received for 12 to 24 months may be considered
as acceptable income, as long as there are positive factors to reasonably offset the
shorter income history.
If commission income represents 25% or more of the borrowerâ€™s total annual
employment income, obtain the following documents:
â€¢ copies of the borrowerâ€™s signed federal income tax returns that were filed with
the IRS for the past two years; and either
â€“ a completed Form 1005 or Form 1005(S), or
â€“ the borrowerâ€™s recent paystub and IRS W-2 forms covering the most recent
Commission income must be averaged over the previous two years. To
qualify with commission income, the borrower must provide
Â· copies of signed tax returns for the last two years, and
Â· the most recent pay stub.
A borrower whose commission income was received for more than one year,
but less than two years may be considered favorably if the underwriter can
Â· document the likelihood that the income will continue, and
Â· soundly rationalize accepting the commission income.
Â· Unreimbursed business expenses must be subtracted from gross income.
Â· A commissioned borrower is one who receives more than 25% of his/her
annual income from commissions.