First let's review what you're working with.
Your items in favor of a loan: 1. You have a down payment; 2. Your credit score and, 3. You can prove your rental history.
Now the risks - 1. Your income is derived from the co-borrower's business; 2. You're a 1099 employee; 3. Fiance's credit.
It's difficult to ascertain whether you may be eligible to for a loan because, while we look at the items above, we also consider other factors. For instance, since your fiance is self employed, we will review his tax returns for the last two years to determine income stability. Taking into account the type of business, we will analyze his deductions, cash flow and the bottom line - adjusted gross income after all deductions are taken, etc.
If he does not deduct any federal or state taxes from your wages, then you are considered a 1099 employee or "self employed". As such, we need to review your tax returns for the last 2 yrs tax returns to determine the stability of your income, etc. Hopefully, you have kept your paystubs to document your wages.
Unfortunately, I cannot give you a definitive answer without reviewing your documentation and speaking with you both. Feel free to contact me at the number below or via email - I would be glad to discuss your options and develop a plan of action to get you both on the path to homeownership.
Hope this helps,
1600 East Robinson Street, Ste. 250
Orlando, FL 32803