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Just to add , this was not even typical self employment where I get my own clients or provide services.
It is a guaranteed 40 hr week from one employer ( except 6 holidays in the year and vacation ) and no fixed end date .
Anyway - just curious about what you said and I don't know what I could have done differently.
@Anonymous wrote:Just to add , this was not even typical self employment where I get my own clients or provide services.
It is a guaranteed 40 hr week from one employer ( except 6 holidays in the year and vacation ) and no fixed end date .
Anyway - just curious about what you said and I don't know what I could have done differently.
Hi Yaskaz,
Unfortunately there really wasn't anything you could have done except maybe call more lenders or do some research on underwriting guidelines. I generally don't like to educate my competition but I'll tell you that you can do a Freddie Mac loan with 1 year self employment as long as you get specific findings from the Freddie Mac Automated Underwriting System. FHA & VA will also allow but it has to be a strong file & it has to make sense. In the OP's case, they've been in the same line of work for a long time so they would be a potential candidate for an approval with only one year of SE.
Thanks!! That is very good to know and keep in mind for the future.
I have also worked in same industry for 20 yrs ..and this job change was basically in the same line of products I have been working in all along - now it is a more advanced design role as opposed to support.
Thanks, I will look more into it..