Please help! Need to know if I can still qualify for conventional

[James Boreno]

Hi Lenders - I need your help, I think I screwed up!

I'm preparing to purchase investment properties after 2-years of self employed tax returns and I created an S-Corporation this year. I believe I made a huge mistake as I made the S-Corp to be effective on 11/10/2021... And I believe now my tax returns for 2021 will have that date.

Will this hurt my chances of qualifying for a conventional loan?  I need another year of tax returns (2022) before I have those full 2-years for self employed borrowers... Now I'm not sure if I will need 2023 tax returns as-well because of the "short tax year" for 2021.

(I know about the 1-year self employed borrowers option, but I haven't been self employed for 5+ years)