Posted on: 22nd Sep, 2010 08:02 am
Hi,
I wish to buy a house in 2011 and have established my company in 2010. By this time my credit score should be around 700 and I will be able to put over 20% down. I have no debt. The problem is that I heard you need 2 years work history. I will only have one year and I'm self-employed at that.
I'm looking to buy a $120,000 home and will be able to put down $30,000. I have no bankruptcy. I don't know what other information to add. Will I be able to get a loan with no work history?
Also, what if I put $60,000 instead? Would that make it possible?
Thanks in advance.
I wish to buy a house in 2011 and have established my company in 2010. By this time my credit score should be around 700 and I will be able to put over 20% down. I have no debt. The problem is that I heard you need 2 years work history. I will only have one year and I'm self-employed at that.
I'm looking to buy a $120,000 home and will be able to put down $30,000. I have no bankruptcy. I don't know what other information to add. Will I be able to get a loan with no work history?
Also, what if I put $60,000 instead? Would that make it possible?
Thanks in advance.
my husband owns a 3 yr old company...not sure about 1 yr taxes...i posted similiar question in the same thread...
i would suggest you start putting yourself on a payroll so you can provide w-2...that's what my husband does..bank will ask you for your profit and loss but being self employed my husband had trouble applying for the loans until he started w-2 for himself
i would suggest you start putting yourself on a payroll so you can provide w-2...that's what my husband does..bank will ask you for your profit and loss but being self employed my husband had trouble applying for the loans until he started w-2 for himself