Mortage for me? First time buyer, 1 year of income, 30% down,

[David Lander]

TLDR: My fiance wants to buy a house (to use as her primary) for 300k and put 30% down but only has 1 year of income. Is there a mortgage she could qualify for?

Applicant's Goal: I am a 28 year old first time home buyer in Las Vegas. I am interested in buying a home for around $300-350k to live in as my primary residence. I am not a veteran or a US citizen. I am a permanent US resident green-card holder. I will put down a 30% down payment with plans to pay off the loan quickly. I intend to own the home for at least 10 years.

Type of property: single family detached house

Location: Las Vegas

Purpose of Financing: purchase first home

Type of Financing Sought: not sure. Applicant is seeking to pay the loan off or down quickly. She'd like to make balloon payments and an early final payoff payment without penalty or fee. The interest rate is less important since she plans on paying it down quickly so she doesn't want to pay for points to reduce the rate.

Real Estate Ownership History: first time home buyer

Occupancy: owner occupied primary residence

Value of Property: $300-350k

Down Payment: 30%

Source of Down Payment Funds: own funds and gifted funds

Income Source: schedule C business income, gifts

Gross Monthly Income: $3500

Monthly Debt Obligations: $0. Applicant's personal expenses are currently paid by her fiance. (car/health insurance, gas, food, medical bills, clothes, housing etc, )

FICO: Excellent

Credit Issues: None

Additional Details: The applicant's income is recent since she just started her business in 2021. Therefore she will only be able to provide 1 year of tax returns showing her income of approximately $40,000 for TY2021.

Is there a lender that will accept 1 year of business income and a 30% down payment? Or will I need at least two years worth of business income tax returns? My bank statements do not show significant assets since I prefer to keep my money in cash.

If this is not the best forum for this question is there somewhere else I could ask?