Zillow Advice: Approval Process - New Employment as Contracted Employee http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ Zillow Advice | Zillow Real Estate With that clarification, ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ With that clarification, I think you will be fine. My office in located in Virginia and we work with many governemnt contractors who are similar to your situation. They are employed by ABC company as an employee. ABC company is granted a government contract to work on. The employee is assigned to that specific contract, but the employee is a W-2 employee of ABC company. If the contract is pulled or has not been renewed, the employee is assigned to another contract that has been issued to ABC company. If this sounds like your scenario, then you should have no problems once you have been at your new company long enough to produce paystubs that cover 30 days of income. Tue, 30 Jul 2013 18:09:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T18:09:00Z For clarification&nbsp; - ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ For clarification&nbsp; - I am a W-2 employee for the professional resources agency.&nbsp; Upon completion of the VOE regarding the question "probability of continued employment" = Good.&nbsp; The previous comment, the "try before you buy" that is not with my employer, that is with the client site that I am providing my services to.&nbsp; The "Agency" is my employer - they provide the "contractors" (me) to the client sites.&nbsp; Lance - the first part of your response is accurate.&nbsp; I don't know if I have muddied the water anymore, or if I have clarified anything.... regardless;&nbsp; I'm a good investment, all I did was attempt to further my career and provide my family with a better home and income.......&nbsp; Even if I have been with an employer as a full-time (FTE) I could quit at any time for any reason, so basing history to predict future isn't a guarantee of anything.&nbsp;&nbsp;The fact that I have been in the technology industry and advancing my career (should) mean something..... Tue, 30 Jul 2013 17:59:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T17:59:00Z Im sorry you are having troubles. ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ <p align="left">Im sorry you are having troubles. If you just started this July, then unfortunately the other companies you have spoken with are correct. Now that you are a contracted employee, there is not the same stability as being an employee of a company. The reason there is not as much stability is because generally speaking as a contracted employee you are essentially looked at as a self-employed individual and there is a greater chances that you will take on more expenses which in turn will affect your income. Now if you started last July and you are there now for 1 year and it is the same line of work, then we may be able to work that out instead of having a two year history.</p> Tue, 30 Jul 2013 16:53:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:53:00Z That makes more sense now. ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ That makes more sense now. If you are a W-2 employee at the new company then the income would not be the issue. The issue that&nbsp;I see that will arise is when the Verification of Employment is done and your current employee states that you are not a permanent employee and that you are&nbsp;in a "temporary or contracted" status.<br/>&nbsp;&nbsp; Are you considered a full time employee of the new company? Tue, 30 Jul 2013 16:50:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:50:00Z Doesn't matter that the employer ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ Doesn't matter that the employer contracts employment (employees is the product they provide).&nbsp; As long as you are w-2, are employed in services relatively related to your background, and work consistent hours,you pass the employment requirement with 30 days of pay history.&nbsp;&nbsp; A note on the verification or letter of explanation from the employer regarding the business model wouldn't hurt your loan request.<br/><br/>Was writing while you were posting.&nbsp; Your last statement does hurt your cause.&nbsp; It now implies you are temp with maybe a chance at being an employee.&nbsp; If you worked for the agency on an ongoing basis or were hired by the end employer you would qualify job history. Tue, 30 Jul 2013 16:48:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:48:00Z I worked for a different ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ I worked for a different company all together for just over 10 years.&nbsp; I left them in the middle of July 2013 and started with a Professional Resources agency - I'm in the IT world as an Implementation Consultant, but it's technically a contracted status.&nbsp; However, I do have a W-2 and not a 1099.&nbsp; The contract is basically a "try before you buy" situation - so I don't know the correct terminology, but a "Contractor with intent to hire"?<br/> Tue, 30 Jul 2013 16:43:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:43:00Z I understood your reference ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ I understood your reference to a contracted employee to mean you were a "sub-contractor" or was receiving 1099 income. &nbsp; &nbsp;Can you explain your employment status a little more. &nbsp; &nbsp;If this the same company, and you are receiving w2 income? &nbsp;&nbsp; Tue, 30 Jul 2013 16:39:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:39:00Z Yes I am a W-2 employee from ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ <p>Yes I am a W-2 employee from the agency.&nbsp;</p> Tue, 30 Jul 2013 16:32:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:32:00Z &nbsp;I am guessing that ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ &nbsp;I am guessing that you went from being a W-2 employee to a 1099 contractor. If so, you will probably have to wait at least a year and a half to qualify for a loan. Tax returns need to be used to qualify someone who receives 1099 income.<br/>&nbsp; Are you now 1099'd? Tue, 30 Jul 2013 16:22:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:22:00Z Unfortunately, self-employed ... http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ Unfortunately, self-employed or commissioned employees have to have a history of 2 years of receiving that type of income. &nbsp; &nbsp;After 2 years of recorded income on your tax return, that income is averaged over that period of time. &nbsp; Your previous employment earnings do not play a factor in your income. &nbsp; &nbsp; &nbsp;Also, the lender would need to see what type of deductions you will be taking now that you are a contracted employee. &nbsp; &nbsp; Tue, 30 Jul 2013 16:20:00 GMT http://www.zillow.com/advice-thread/New-Employment-as-Contracted-Employee/504321/ 2013-07-30T16:20:00Z