I have a SFR in Los Angeles with a lot of equity in it. Want to sell it and buy other house with traditional financing. Will put 30% down.
I just start working after 2 years brake.
My salary can be W2 or 1099.
1 - Which way I better look in front of tradional lenders?
2 - How long I must be working to qualify for a loan?
No hard or private money.
@Marius Paguzinskas You should be 6 month on this job as w2 employee if its same line of work which you was in before.
Yes, it’s same line of work. I been told by few mortgage brokers in Ca what I need to show income for 2 years as W2.
Can be law diferent in Ca and Il?