Any mortgage options for a 1 year self-employed?

Question

Looking to buy a new primary residence here in NC. Wife has a W2 job and I have been self-employed for 15 months. Does anyone know of any lenders in North Carolina that can work with just 1 years' federal tax returns for self employed?

Thanks,
Matt

Thanks,Matt

Curt Warner · Answer

Ok, I will. Bruce Lawing is his name. NC has a grant program. He can give you the details but it sounds pretty good.

Matt Cruz · Answer

@Curt Warner Actually yes I am first time home buyer.  Our current house is in my wife's name.  Feel free to give your friend my number.  I'm free to talk any time tomorrow.

Thanks,Matt

Curt Warner · Answer

Hey Matt. I didn't see my friend tonight. I will call him tomorrow for you. Any chance you are a first time homebuyer in NC?

Matt Cruz · Answer

@Curt Warner sounds great, thank you!

Curt Warner · Answer

I have several contacts for you. I am actually seeing one tonight. I'll ask him and let you know.

Matt Cruz · Answer

Yeah my wife has worked that job for almost 10 years.  The guy we were working with locally said they actually just changed that rule with Freddie Mac where you only needed 1 year.  Sounds like 2 years federal tax return for self-employed is required now.

Harjeet Bhatti · Answer

If she has work in same line of work before, she should be ok with 1 year tax return under Freddie Mac.