Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 hours ago on . Most recent reply

User Stats

1
Posts
1
Votes
Alexis Canales
  • New to Real Estate
  • El Paso, TX
1
Votes |
1
Posts

New to Investing! Could I still get an FHA loan if I’ve been self employed for 1yr?

Alexis Canales
  • New to Real Estate
  • El Paso, TX
Posted

I'm ready to buy mi first duplex/triplex for a house hack and wanted to go the FHA loan route strictly for the low down payment of 3.5% I've been self employed for exactly 1 year now, but the issue I'm running into is that every lender I have talked to (over 9 lenders now) have told me I need to have at least 2 years of self employment in order to get an FHA loan or any loan that requires under 10% down (even if I made good money my first year of self employment) I have 780+ credit score, no debt, no loans, no monthly payments on anything. I have good savings but I still want that 3.5% down, does anybody have any advice for me please? Should I find a way to finance my purchase with the seller instead of a bank? Very new here so anything helps:)

Loading replies...