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marytony22 · Joined: 18 Jun 2009 Posts: 1 1.32 Dollars($)

I have 2 years of tax returns working for other plumbing companies. I just, just started my own plumbing company, sole prio. I have 20,000 in a CD and 10,000 in the bank. My mom would co-sign. I am a fist time home buyer. I have 1 job as self employed so far.... what can I do?

jerry · Posted: Fri Jun 19, 2009 6:10 am Post subject:

Hi marytony,

You need to have a stable employment history of at least 2 years in order to qualify for a loan. If you are self-employed, you will also need to show a self-employment history of the last 1-2 years. So, it will not be easy for you to get approved for a loan on your own. If your mother has a good credit score and income and she co-signs on the loan, you may qualify for a loan. Contact your local lenders and see if they can offer you a loan with your mother as your co-signer.

Thanks,

Jerry

Guest

Thank you so much for the good news, it was very encouraging!

brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

You will definitely need a co-signor since you have less then 2 years as your own business. But once those two years are up you could refinance the other person off the mortgage if your mother cosigns for you currently and you qualify. Good luck!

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will I be able to get a home loan?