I am stuck, I am a 1099 person that wants to buy a home...

[Christian Olivo]

1099 person that doesn't want to go back to W-2 job to Buy a home to be more clear. What would be my options to go forward? I am stuck here and having trouble getting started bc of it. I just want to make it clear that I do not want to go back to W-2 job bc I find very valuable in the free time that I get to read and improve myself on other things. I am planning to create a business on other sector as well and taking a W-2 will distract me from it. These are the issues that I'm facing with getting started:

1st issue - I already talk to two home mortgage lenders and they either need me to be 2 yrs in stable 1099 (which I haven't, I have been switching with gig economy jobs. But now I have one more stable that I have been doing since June) or go get a W-2 job for at least 1 month prior to applying it and hold it for at least 1 yr.

2nd issue - I haven't been earning too much in previous years. It was like $15k last yr and adjusted gross income was $12k. I figure this will affect how much I can borrow. (I also only have 1 credit card with $500 credit limit. I HAVE NO DEBTS)

3rd issue - I am planning to invest/buy a home near/surrounding DC area like Arlington, Alexandria, Springfield, etc. Home here are around $600k or $700k. I would need a great parking to house hack it so that also costs more.

Possible solutions I have thought: 

- Go to hard money lenders instead or in addition to whatever I can borrow from home mortgage lenders.

-  Partner with someone or many people to buy a home. Figure the value I can bring is time with some money.

How does these solutions sound to you? Do you think they would work? 

Do you have any other ideas solutions I could use?

[Catherine Emert]

Are you earning more this year? My concern would be that with that income and with the cost you are looking to spend on a home there is a significant difference. Also, do you have a significant amount to put as a down payment?