Self-Employed Borrowers Need 2 Years?

This is a great question!  One that is oftentimes answered by mortgage professionals inaccurately.  Yes, the general rule in the mortgage world is 2 years.  Typical/standard mortgage guidelines for FHA, VA, Conventional, USDA Phoenix mortgages require that a self-employed borrower show a 2 year history of self employment.  However, we need to view mortgage rules the same way Superman views a steel pipe - from time to time they need to be bent. Now don't take that the wrong way.  Bending … [Read more...]