Help getting a loan as a 1099 worker!

[Max Horenstein]

Hi everybody,

I’m a commission only salesman and having a heck of a time getting a loan. I’ve been in my current position for 9 months and recently graduated college. I understand that some lenders may accept 1 year of commission only if you are a recent college graduate.

If anyone knows any great lenders in Ohio (specifically Cleveland) that would be able to help me navigate this please PM me!

[Marc Rice]

If you have a lot of cash and good credit you can use a hard money lender such as LimaOne. If you want a nice 30yr fixed fannie loan you will need minimum 1 year of commissions and they'd take the 2 year average of it (essentially cut your income in half for underwriting if its only been a year). The biggest things they really want is tax returns to prove the financials.