Advice applying for a home mortgage with 1099 forms but no tax returns

[Jimmy Rojas]

Planning to purchase in Phx,Az and surrounding areas, my equifax score is 700, experian 645,no debt whatsoever, have 1099 for 2022 and 2023 (required 2yrs), on my 1099s it says i make 135k per year, do not have tax returns (yea, yea), im planning to first start with my bank wells fargo.

This would be my first home and at 1st plan to live in it, possible house hack, going for a -$300k loan. should i go traditional, fha , i plan to be on a fixed rate so I dont get surprises later on.

In my situation, what down payment amount do you think will be needed .

[Andrew Freed]

@Jimmy Rojas - Simple solution, complete your taxes. You need your tax returns completed to get the best loans, especially traditional loans like an FHA or owner occupied loan. You will get exceptions on your income at small local credit unions and banks who will utilize your 1099 income over W2 income more loosly, nonetheless it all starts with you completing your taxes. Otherwise you will be restricted to DCSR or hard money loans and have to bring 20-25% down.