Looking for a Lender Who can help me

[Anonymous]

Hello!

Looking for a lender who can loan is WA state. Here is my situation and not sure if there is anyone who thinks they can get me approved. I have a 660 mid score. In the last five years paid all my bills 100% on time payments. Debt to income is about 40% I think. Where I am struggling is, I worked in the same type of work sales, base + comission for the last 15 years. I switched jobs in Nov 2019 went from being self employed base + comission to W2 Base + comission. I have never had a lack of income or gaps in my employment, But suddenly because I went from 1099 (self employed) to w2 I am being told I need to wait yet another two **bleep** years! The problem also is because I was self employed..i naturally wrote off anything and everything that I could when I filed taxes, which makes it look like I made didley squat. I make a 100k a year currently. I just want to get a nice home for my family. on paper I would think I am a good borrower, I have a car loan, 4 credit cards, all paid 100% as agreed on time 2 of those cards are fully paid off and have all the available credit free. the other two are only carrying half of the available credit as a balance. Never evicted or late on rent...yet I have to keep lining my slum loards pockets..and live in a home unsafe for kids with black mold etc... all because our town has a less than 1% vacancy rate on rentals...no one can find a rental in this town. I hate to move to another state but feel like I am getting pushed out if I want a nice home for my kids and family. I am a single mom..why is this so hard? I also have money saved to put down. PLEASE HELP ME!

[VALoanMaster]

Hi @Anonymous,

How much of your current monthly income is commission VS base?

Generally going from 1099 to W-2 is not an issue and the fact that you're in the same line of work makes it even less of a risk.

Where things might get a little tricky is if the majority of your income is commission.

It sounds like you need a 2nd opinion from another lender.

[CYBERSAM]

You have 2 CCs that are reporting about 50% UTI. This could be lowering your score by 50 points. Pay them off and have one report less then 1%.

You can try Credit Unions for loan, they ask for many paper works but they are easier then most banks. You can actually talk to their underwriter!

I think your in great shape, you just need some more info to make a best decision.