I have been an employee for two years now switching to a contractor status. Offer accepted and now this!

This is not necessarily impossible to overcome. What type of business are you in and what type of pay structure are you under? For instance, if you have been commissioned for two years and you are still on commission we might make an exception. You can call me to discuss your options.

It's not easy to overcome, you have essentially started your own "business" that has no history. If someone else here has a work-around, talk to them - but I'll be surprised if you'll have an easy time being approved. Otherwise you may have to choose between the new job and the home, or wait until you have been a "contractor" for at least a year . Never change jobs in the middle of buying a house... Good luck!

The odds of getting loan have just dropped to near zero for the next two years... You just became self-employed. Lenders require basically a two year history to figure out your new income. What you you bring in, what will you write off, and ultimately, what will be your actual income. Read more at http://joemetzler.com/self_employed_homebuyers.htm

We have a program that allows you to switch from W2 to 1099 or vice versa. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803