I guess you can say the following criteria, will get you in the door of an FHA loan.620 Credit Score'2 Years stable income -w2, self-employed etc.

The parcel, adjacent to our World Hub, will be paved and used for storage of ground-support equipment starting in February 2018.

Midland has a stable economy but it's heavily reliant on a single employer (Dow Chemical) which has been less than stable. 

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.