Travel Nurse - First Time Home Buyer

[Jordan King]

Hello, my girlfriend is a travel nurse and is looking to buy her first home but cannot seem to find any traditional financing since she is technically a "contractor" and has only been travel nursing for 1 year. I was wondering if anyone had any ideas on how she could secure a low down payment loan for her first home. Or if that is even an option? Thanks ahead of time.  

[Grant Schroeder]

@Lawrence Potts @Jordan King thanks for asking! I have worked with several travels nurses over the past couple years. It is best to work through the same travel agency as you pick up different hospital contracts for lendability. We have to take a 24 months average and you have to have worked as a travel nurse 18-24 months to use your variable income, but if you work for the same travel agency, that is most streamlined and you are typically W2 as @Chris Allen mentioned. If you are 1099, then 2 years Schedule C like traditional self employed borrowers is required. If you are constantly switching around to different travle agencies and having multiple W2s and being active on and off with different agencies, this does not work for income or qualifying.