Is it really next to impossible to qualify for a mortgage as a 1st time homebuyer if I am self-emploBJ Matson and Shane Milne Is Right on TARGET!I have been selfemployed since my job at Motorola got ship to China in 2003.Over the years I buy several properties including 4 family rentals in Florida. I always get qualify using my gross earnings. Sometimes I claim too much decuctions which reduces my income and make me unable to qualify for a larger loan or a certain price house.I am currently in the process of obtaining a HomePath Renovation Mortgage which is looking good, so far. It can be done, just start with a smart creative loan processor/broker. Educating yourself, like you are doing, about the process first, before taking the plunge, is smart. Best of luck!June 19 2011 - Draper00YesReport 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.