Any chance of getting a 300k mortgage withouth a complete 2year work history?

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I was with my previous employer for 1 year 6 months (Feb2006-Aug2007)..I then left and became self employed (Sep2007-current) and went from making 5k/mo employed to 11k/mo self-employed instantly and have kept that up for about 1 year. I worked up to August of last year with my previous employer, and have worked ever since on my own. I filed my taxes reporting my W-2 with my employer (Jan-Aug) and reported my self-employed income for the rest of the year (Sept, Oct, Nov, Dec), so I have my tax records, and bank statements showing deposits of 11/k every month and invoices from income and everything. My credit score is 680, I have $ 0 junk debt, only money I owe is $ 10,000 on my auto, and I have $ 30k to put down and another $ 30,000 saved as an emergency fund….Will banks consider me for a loan even w/o a perfect 2 year work history with one employer under these conditions?

  1. Reply
    Chris S
    May 18, 2011 at 2:42 am

    No you need to be self employed for at least two years. You should of gotten the mortgage while you were employed then switched over to self employed.

  2. Reply
    May 18, 2011 at 3:34 am

    Nope, not with the economy like it is.

  3. Reply
    Marie M
    May 18, 2011 at 3:41 am

    Nope, probably not.

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