Have 1 year of income to show (2017) - approx. $115k, and low income in 2016 - approx. $10k.
Excellent credit of 826.
20% downpayment ($63k) on house of value of $315k in NYS/Rochester, NY.
Very low debt (only car payment, but could pay it off with savings).
What are the possibilities of getting a mortgage using just the 1 year taxes? Business is only 2.5 years old.
What mortgage lender would be best to try?
No go. We'll average 2 years if you want to go with market rates. Private money for higher rates and see if they'll only use 1 year tax returns.