I am stressed: can I get financing as a 10-99 employee?

[Trevor Bond]

Hi everyone,

I am 21 and graduating this May and accepted a job as an independent contractor and will be a 10-99 employee. I have been told that it will be harder to get a mortgage because I am an independent contractor and not a W-2 employee. I wanted to ask if you have any thoughts or would know more about this. I want to note my goal is to house hack this year / BRRRR a 2-4 unit property. I am pretty stressed about this and I would most likely be using FHA or loan downpayment loan etc. Does being an independent contractor hurt my chances of buying a property?

Any help would be greatly appreciated.

Have a blessed day,

Trevor

[Joshua Janus]

I drove for Uber for 2 years to qualify for an FHA house hack. You will need the 2 year history of tax returns in order to properly qualify. Speak to a lender to see if there are other creative options, but I am also looking to utilize a DSCR loan to get into something larger as those requirements are much less stringent.