Updated over 6 years ago on . Most recent reply
First Time Home Buyer Needs Advice
Hi BiggerPockets community! Thanks for being so awesome!
My name is Harrison, my girlfriend and I are thinking of moving to Portland, OR. I have a remote job, so I can work from anywhere, and we'd like to plant some roots as soon as we can!
I make about $4,200 per month (gross) as an independent contractor (1099) for an international company. Really, I am an employee that makes the same amount each month, but because of the international relationship between my employer and me, I am a 1099 instead of a w2. From what I know, I will need to have a two-year work history to get a loan for a house. I will only be coming up on one year of work history when I would like to buy a home (Spring 2020). And if its 2 years of tax returns, I'd have to wait even longer because I started my current job in April of 2019 (leaving out 3 months of income to show).
I don't want to throw money down the drain by renting an apartment until I can get approved for a loan in 14-30 months.
I have a phenomenal debt to income ratio and my credit is 760.
Is there anyone out there that would give me a loan for a house? Seller financing?? Help!
Thank you so much!
With gratitude,
Harrison H.