Buying a house with 1099 income and tips

[Sara Timko]

Hello everyone,

I've been following Bigger Pockets for a while and working to get my credit ready for the best loan & interest rate possible. However, I've run into an issue that I haven't seen discussed much in my research. I work full time as a delivery driver where I receive a 1099 as an independent contractor. I have 13 months of work history, but lenders keep telling me I need 2 years of history. I also make tips as a waitress and even though my combined income from these 2 jobs is  around $88k, lenders also want 2 years of W2's from tipped income. 

I guess my question is, how can I get around having to wait an additional 1-2 years, and what types of loans or lenders might be willing to get me into my first property faster? 

I appreciate any and all leads! I plan to make real estate investing my primary occupation, but don't want to wait so long to get started.

Thank you so much,

Sara

[Mark Huneycutt]

Same line of work previously can be used so if you have 11 months prior to the current 13 months as a delivery driver elsewhere or as W2 with the current employer, that would help you qualify with 1099 income on a loan at 10% down. Around 7.5%. interest rate.