If you have paystubs from your new salary position you will be fine
Hi and welcome to MyFICO,
A few questions:
I believe you have to have at least 2 years woth of tax returns to prove your income when you are self employed....if your previous position earned enough income to qualify for the home then you should be fine...if not then that can be a problem when trying to qualify.
You will be fine with 30 days paycheck stubs as the AUS (automated underwriting system) will require it. Hopefully you don't own any part of this new business, if you do, as long as you don't own more than 25% of the business we won't require business tax returns.
Your scenario is very common in my travels, but I can assure you, other LO's will struggle. So vet your LO and Lender wisely. It will make a difference in how smooth your transaction will go.
Best wishes to you!
I do not own any part of the new business. Hopefully that makes things easier on me.
Yeah that will make it a lot easier. This should be an easy loan to close.