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Old 09-10-2013, 05:09 PM
 
Location: North Carolina
1 posts, read 1,373 times
Reputation: 10

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Hi All,

I've had the door slammed in my face a couple of times already and am looking for assistance from this community. I have a credit score over 800, 150k in the bank from a previous home sale, and an accepted offer on a $170k home that I'm hoping to close on next month. Only thing I need is a loan.

I understand I am considered a high risk or just a total risk for most lenders because of the following:

1. I worked as a w-2 employee for 13 years and then had to leave my job to care for sick family member
2. For a year I have been working as a 1099 employee for the same company and am still working with them
3. The timing of all of this has resulted in me only having 6 months of income on my 2012 tax return.

The lenders are telling me that all of this put together makes me a no-go for a loan. I am only looking to borrow 75-100k so in essence the financing could be 50% loan to value if needed. I am also willing to try a personal loan or private-funded, hard money type of loan if need be. I just can't wait the two years. In other words, I don't expect the world, I'm just looking for names and phone numbers of people and places some of you have worked with that may be able to help me.

Thanks in advance for your referrals.
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Old 10-03-2013, 03:24 AM
 
1 posts, read 1,108 times
Reputation: 10
Sorry I can be of any help. I am actually looking for some help myself. I hope you have been successful and if so I would love to know who?
Thanks
Tina
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Old 10-03-2013, 09:20 AM
 
Location: Phoenix, AZ > Raleigh, NC
15,076 posts, read 19,024,811 times
Reputation: 24187
Ask your realtor. Ask your credit union. Ask at the mortgage board of city data.
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Old 10-03-2013, 10:35 AM
 
Location: Wilmington, NC
32 posts, read 38,343 times
Reputation: 55
I know a mortgage broker who could probably answer your questions. We have had a lot of clients that he has helped out, and is always happy to just answer questions. Please direct message me if you'd want his info.
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Old 10-06-2013, 03:03 PM
 
4,657 posts, read 7,716,346 times
Reputation: 4818
Lenders are requiring 2 years 1099 employment.

Sometimes it stinks being self-employed.
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Old 10-14-2013, 10:26 AM
 
1 posts, read 984 times
Reputation: 11
Default loa offer

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Thank you,
Cameron
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