Lender that does not average last 2 years of 1099 income

[Alfred Costanzo]

Hi everyone,

Trying to get approved for a vacation home mortgage 10% down. My last 2 years of income (2019 and 2020) have a big differential. I'm a 1099 not a W2 so I because my current DTI I am not able to get approved for the price point I would like. I am house hacking, currently making money, rent 3,800 and mortgage is 2,800, but from what I've been told rent cannot count unless it's been going on for more than a year. Just bought this home 3 months ago.

So I am hoping someone knows a lender that doesn’t average last 2 years of income or could count rental income before that year. I know that is typical but I’m sure there is someone out there that does not. Been applying to a couple lenders but I figure I’d send this post out and if anyone has a lender that has helped them with a similar issue. Thanks!