Hi first post, love these forums! Buying a home in Idaho, primary residence for my family. Looking to spend 300k, and hoping not to put 20% down, would like to go 10% or less if possible. However I'm being told I won't qualify for an FHA loan since I've worked mainly as an independent contractor for years, with occasional W2 employment but never beyond 3 months. I declare heavy expenses on taxes so my yearly net is generally 20k or less. I can show decent bank deposit history, around an average of 80k per year last few years. My fico is showing 680 on credit karma. I want the best rate possible and don't want a specialty loan at 6%+ interest and a high down payment, so my dad with an 800 fico and great work history agreed to do the loan for me. He is a current homeowner in California and has a few rental properties there, so maybe he can't declare this as a primary residence purchased for me? In any case would love some mortgage pros to weigh in here as to what my best option and rate + points will be. Thanks!
