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

Question

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?

Answer 1

Nope, probably not.

Answer 2

Mortgage is one of the finance option provides facilities for the customer to buy the house or property. Normally the mortgage is provided by the banks and other financial companies and institutions for the home and other property loan. Some mortgage companies are also working in USA to give mortgage facilities where you can get the proper-information and advice as per your need. There are various types of<!--condition apply while you are purchasing the home through mortgage. Monthly payment against the mortgage facilities are based on many factors, considering all the factors and general rules the average of the monthly payment is around 25 to 33 percent of the gross income of loan holder.

http://mortgages-finance.awardspace.com/

The repayment period of the mortgage of the home loan would be 5, 10, 15, 20 and maximum 25 years. While the repayment period for the commercial property would be normally of 20 years for new property and 15 years for old property. The mortgage company gives flexible option for the repayment of loan as well as in the time-->period that are suitable to the customers. You can select the repayment period depending on your ability after discussing with mortgage consultant. The mortgage application is properly scrutinized by the mortgage company with related documentation.

Answer 3

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.

Answer 4

Nope, not with the economy like it is.