Stupid 1099! Any way around this?

[jprose5]

My SO and I want to buy a house, he's a w2 and I'm a 1099 of 14 months. Every lender needs at least 2 years tax returns. Is there any lender that can take 1 year? If not, we'll have to wait until February for my return to be done. I've heard of Portfolio loans but have no idea where to go for one or if it's worth it.

[StartingOver10]

Check regional banks to see if they will issue a portfolio loan.

Ask your Realtor if they have any resources. Most experienced Realtors keep a list of local portfolio lenders.

[DallasLoanGuy]

portfolio loan is a loan issued by a lender that doesn't seel their loans on the open market. (doesnt get sold to fannie mae)

a protfolio loan is held on the book(in the portfolio) of the bank who lends the money

examples of who does this: credit unions and some small community banks