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Wells Fargo approved me fairly easily. Just haven’t found a house I want yet.
Coach
Keep an eye out for sketchy charges on your statements. Wells Fargo has been caught multiple times over the years fleecing their customers. The fines for getting caught are always less than what the made so they keep pulling that BS.
Coach
You’d think that with the rise of the “gig economy” over 10 years ago, lenders would’ve evolved by now, right? Nope.
I can’t help regarding lenders, but if you have a decent regular income, consider setting up an S-Corp. You’ll appear to have regular payroll employment. It sucks that lenders prefer this, even if you take in a ton of freelance money, but this was my CPA’s advice for exactly this reason.
You need to have two years of consistent income as a freelancer/small biz owner.
It really depends on the whole picture—a smart broker who understands this type of circumstance is invaluable. Here’s a good partner as well: https://makeabeeline.com/
In the same process now, so interested to hear what you’re finding. Wells was confused when I spoke to them about my mix of W2 and 1099 work. Spoke to a broker and she was much more confident in the my options.