Cash flow was not important to him at the time (because he was employed) so he put all the income into paying down the loans one at a time.

,Neither your income nor your employment history figure into your credit score.

Your lender can review the docs and see if there are any issues with buyer (such as self-employed, high debt-to-income ratio, short time on the job, etc.)

The current situation is that I am self employed as well as my business partner and we are novices in RE business.

If they deny you from that, it's like saying self-employment income doesn't qualify.

Jeff,Can you share you experience with these Freddie loans when it comes to self employed borrowers?

@Jagdish Bajaj  I think it is also worth noting that not all of the faculty, staff, students, administrators, etc. of the Schools and Hospitals in University Circle live or want to live within a 5 mile radius of their respective employer.  

With no down payment and being self-employed, I believe this is a way to get into the industry.   

When she goes back to work, we will pay off the loans asap.I keep working as a self employed consultant so I can select jobs that allow a balance with family life.

We're happy with our financials and our fields, but we're self-employed.