Help with getting a loan...

You will need to average out the income over a 24 month period. That is what the Underwriters will do. You cannot simply "throw out" 2009 because you had a loss. As long as you can show at least $3000-$3500 in income a month, you should be OK. Plus you dont have any debt. You should be below 50% Debt to income ratios. If above, then we need compensating factors. If you go FHA, only 3.5% down, you need to factor in the Mortgage insurance premium and monthly mortgage insurance and property taxes and property insurance on the property. If Conventional, no MIP or MI. I lend in AZ and can help with your questions. I have low fees and low rates. I can also show, how to have the Seller pay for some of the cost's on your Purchase. My name is Rich, you can contact me by email or phone, rconstantine@myhsoa.com or 714-299-5807. Good luck! RC

Short Answer: They will average your income over 2 years. If you file the 2010, then it would be better, but not necessary. Your 2010 W2's would be okay. You have more than enough money, credit, and income to purchase this home. I know you have lots of options, our office is in Arizona and I know the market real well if I can help. You can also check out my site: www.BiltmoreBranch.Com There are a lot of helpful tools on there too. Good luck, and congratulations on your success this year.

Depending on your credit score you mayonly need 1 year and are you in the same line of work

A mortgage professional will take into consideration your individual LTV, DTI, Credit and Property Type scenario to determine which loan program best fits your needs and goals.There are government insured loan programs, such as FHA, USDA and VA home loans, as well as conventional and jumbo financing.Whether you're a First-Time Home Buyer or seasoned investor, the mortgage approval process can be a slightly overwhelming adventure without a proper road map and good team in your corner. 800-552-8670 ext #121vikki.nguyen@pmbank.com

We will look at a 2year history. However, because your income is rising and not declining, we can use a two year average. Also, on Self Employed tax returns we can add back in some of the deductions you took, so it may be more income we can use to qualify you. The best thing to do is send over your tax returns and I can look at them and give you a income amount to use in qualifying. I am licensed in AZ and am located in Scottsdale, please let me know and I would love to help.