Your self employment status does make the financing a little bit more challenging but do worry with good income (which you seem to have) and a good credit score accompanied with verifiable job history (in the form of tax returns) will be the deciding factor. I recommend mortgage company because they can be very competitive. The large the mortgage company the better. Internet out sourcing for a lender is also a good way to prospect for a lender.

GOOD LUCK!

Mark Warren
REALTOR

It looks like you have been working toward home ownership and that puts you ahead of most, (that's awesome). Most lenders want a work history of at least 2 years with tax returns especially with self-employment however other lenders have some flexibility. Let me just say that you are taking to right first step to home ownership in getting pre-approved. Once you know what you are qualified for a realtor can show you homes that are currently available to meet you needs. Since you are a first time home buyer, if you successfully negotiate an offer on a home you like and get it closed before 1 December this year you will also qualify for up to $8000 tax credit. If you don't know what lender you would like to work with, I can recommend several local lenders in the Tyler area to help you out. If you aren't working with a realtor, I can help you with that too. Just give me a call 903-714-0112 or email Charles@EastTexasRE.com

Good for you...your starting off right though and that's the main thing! You want to start off with a lender for your preapproval. I have several contacts. Start with Austin Bank, Elena Gomez @ 903-592-7933 x1212 tell her Angela sent you. I'm working a deal with her now and it has been smooth as glass. If your being self employed becomes an issue I have a couple of others that maybe the answer. However, it may not be as big an issue as you think. You need to see exactly where you stand first and go from there. Just take it one step at a time and it will point you in the right direction. If she can't help you please let me know, I'll be happy to forward these other lenders that I have to you. Good luck and if you need anything else at all don't hesitate to contact me.

Angela Hill
903-714-4365
angela@angelakhill.com

Do you mean that you are 1099?
Is that $6000/mo AFTER all deductions?
The lender will look at NET income after write offs.

What did you do before this 1 & 1/2 year stint at the current company? Same line of work?

Tyler,
Our recommendation is to begin by evaluating your personal budget, accounting for money coming in and going out.

Once this is taken care of you are ready to visit several loan specialists to learn about program that you might want to consider. When doing this always remember to request a "good faith estimate." It is simply a written account of programs and rates that are quoted to you during this meeting.

With your loan amount clear, you are not ready to begin your search. Many people begin searching for property on line and by attending open houses regularly.

Best wishes with your search.

The Eckler Team