Any loan programs for self employed people with less than 2 years of business history?

Tue, 02 Feb 2010 21:59:00 GMT

I started a company part time last January (2009) and recently left my job to work full time on my own. I had a good Q4 and excellent billing (it take me 30-90 days to get paid after rendering services. The amount I will get paid in Q1 2010 would be enough to qualify for the mortgage if it was my yearly income as a w2 employee) for 2010. I have assets to put down 25-30% and still have a years of living expenses left, 760+ credit, and a long (10+) year history in the field but that doesn't seem to help at all. So far everyone I have talked to says that without 2 years of tax returns that they can not offer me a loan. Any thoughts?

2 replies

Is it possible for H-1b visa holders and/or F-1 students to get a mortgage here?

Thu, 05 Nov 2009 04:35:00 GMT

I (H-1B status, just effective this Oct.) and my boyfriend (F-1 status, Phd) plan to buy a condo around $250,000. We have $125,000 in hand for the down-payment. I make $33,000 per year, and my boyfriend gets $23,000 fellowship per year as an RA in his University. We have no loan, no credit card debt. Very good credit score. Can we get a $125,000 mortgage? Does a F-1 visa holder qualify as a borrower as well? Thanks!

4 replies

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Any loan programs for self employed people with less than 2 years of business history?

Is it possible for H-1b visa holders and/or F-1 students to get a mortgage here?