Newly self-employed and am in need of a lender
I’ve been a licensed real estate sales agent (independent contractor) for 12+ years and have just started my own brokerage firm in Gainesville, FL. I didn't realize how much this would impact how lenders view me and my business. I still have the same clients and my income is not likely to drop. My credit score is very good and I'm willing to put down a larger down payment, but I still can’t seem to find a lender that will give me a loan to buy my primary residence. A local credit union said they’d need 2 years of track record out on my own or for me to file my 2018 tax returns before I would qualify for one of their loans. As an alternative, they recommended a couple sub-prime lenders that offer loans at higher interest rates of 5-7%. I’ve reached out to them but have not talked with them yet.
Does anyone know a private lender or individual that would be willing to give a normal loan with a balloon in a few years once I qualify for a traditional mortgage?