Looking to purchase my first home! my issue is finding a lender..

[Morrison Machiavelli]

My name is Luke Reynolds and I am currently looking to purchase my first time in Los Angeles, California. I have been following the BiggerPockets community and diligently researching real estate. I have been renting in Los Angeles for the last year and my lease is about to be up.

I am set on buying my first home this summer. I would like to purchase between $400,000 and $500,000. I am a first time home buyer and I unfortunately do not have enough money saved for a down payment, although I do have $5,000 and can make an additional $5,000-$10,000 over the next two-three months for closing costs. I plan to house-hack. Although at this point I’m not picky I am ideally searching for a two bedroom two bath that may work out as conversion to a three bedroom two-bath. I will rent out one room for the first year, and the whole house within the next two years. In addition I have a friend of over 20 years who is moving to LA and will pay around $1000 a month to park his RV and live at the residence.

My issue is that I do only have one-year 1099 under my current line of work teaching underprivileged youth. I have been consistently working and earning at least $40,000 annually, however I’m having issues finding a qualified lender.

Does anyone have any advice or insight for addressing these challenges? Thank you in advance.