I own a business and I am a W-2 employee of the businessI own a business and I am now a W-2 employee of the business. The previous two years (2012 and 2013), I took draws from the company as 1099 income, which was slightly more than my W-2 income will be in 2014 (adjusted for self employment tax). I will qualify for the mortgage on the debt-to-income ratio with my W-2 income alone, assuming total mortgage payment + other debt has to be under ~30% of gross, not including the profit from the business. For simplicity sake I would prefer to keep the business out of the process if possible. My credit score is ~760. I have no debt (I pay my credit cards off every month, no car loan, student loan paid off)I'm looking for condos in the $375k - $425k rangeI plan to put down at least 20%. Possibly more if it helps my causeIf it matters, my W-2 income is about 40% of my total income. I'm buying well below my means. What kind of hoops am I going to have to jump through? I'm planning to purchase in the summer of 2014. Even though I have a higher down payment, will a FHA loan require less hoops? Maybe just regular hoops instead of flaming hoops. January 25 2014 - Bucktown00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.