Question for lenders

[Martin Scherer]

For 30 years I was self employed as a general contractor. 5 yeas ago a long term client asked me to become an employee for an HOA that they managed as a construction coordinator/ project manager. That worked out very well but about 6 months ago the same client asked me to do some side projects for them at very lucrative pay. I convinced my HOA employer to to retain my services as a general contractor but at reduced hours for the same gross pay therefore raising my income. That was in February and acting again as a self employed general contractor my income is increased by 25% which of course is great but now I want to get a loan to purchase a home for myself. Since I am self employed again my favorite lender that I have used many times before is telling me she doubts that I can get a loan since I changed my status. I have been in the same industry for 34 years and have great credit. Now since I voluntarily changed my status I cannot get a loan---say it ain't so.

One other issue is that I own quite a few rentals all of which I bought 8-10 years ago and they all have positive cash-flow.  This she is telling me hurts as well.  Did I screw myself?

And yes I know I can get creative but has lending become this strict?

[Mike D'Arrigo]

@Martin Scherer I'm confused. You said you were working for the HOA as an employee but then you said that you were self employed. What I think you're saying is that you are an employee of the HOA but working as an independent contractor for the side jobs. Do you need the self employed income to qualify for a loan? If not, just leave it off the 1003 application and only show your W2 income.