Looking for loan help with recent job change

Contracting is considered self employed and that requires 2 years of history for all loan types. One option may be a local small bank willing to put the loan in their portfolio. Call diligently each little bank you can find in the area you are looking in. You want bank of Goochland, not Bank of America for example...good luck!

Unfortunately, Fannie and Freddie would require a 2 year history of the self-employment. We have a portfolio loan that might work for you. If you want to discuss this, reach out to me directly. cbufis@southerntrust.com

If the contracting position is IN THE SAME LINE OF WORK as the previous W-2 position you may be able to avoid the 2 year waiting period. For example, government employees sometimes become Contractors (self-employed) and continue to work for the same or similar company. If your scenario is similar please give me a call @ 703 722-6641.Regards,Patricia JohnsonMortgage Loan Originator NMLS# 214728Greenway Funding GroupRockville, MD

More info needed, but in general, when you go from W2 paid employee to 1099, you have a 2 year waiting period.. however, if you are in the same industry, then there is an exception.. Try reaching out to a local mortgage professional and see if they can assist you.. Try the brokers first.. they have a large network of lenders, with each one offering a different set of lending rules.. the more lenders, the more lending options and the greater likelihood your loan scenario will be approved. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Mr. Blake,I can help you with your quandary. Contact me at your earliest convenience. Warmest regards,Damon DanielsMortgage Loan ConsultantNMLS ID: 193536Damon.Daniels@FreedomMortgage.comC (804) 399-5109 | O (804) 593-1995 | F (866) 711-8751

Unfortunately, I agree. Contracting positions are considered self-employment, and you must be self-employed for two-years. There is a very small possibility IF you are in the exact same line of work. It is a very small chance, so don't get your hopes up. Your only other options are non-conforming, or private loans that require large down payments and have dramatically higher rates.

Hi, my name is Jericho Cherry, I am a Loan Officer in Goochland Virginia. I may be able to help you but I need more information. Please give me a call at: 804-556-0685.

You obviously are seeking out a portfolio loan. There used to be a little more flexibility with requiring just one year if in the same field of experience, but it appears you need to get two years under your belt or get something worked out to become w-2 if possible.