New owner operator and buying a house

I'm in a bit of a crossroads in my life right now.

Been out of work for around 4 months collecting unemployment (long story) and I'm in the process of selling our property which will get me some cash.

Kinda tired of working as a company driver and want to move to run my own rig here in Texas, but since we are selling our property we need to move into another house that will require a home loan/mortgage.

From what I can tell you can not get a home loan running your own trucking business until you have been doing it for at least a year which puts a block on my running my own rig idea at least from what I can tell.

Our idea is to get another company driver job for a couple of months or however long it takes to get a new house an after it's all done quit and then start running my own truck.

One of the questions I'm pondering in my head is what does the mortgage lender consider acceptable and what they do not consider acceptable. I mean does buying a truck and leasing it on to a company using their authority still considered running your own business? I'm guessing it does but don't know for sure.

I would be paying cash for the truck so the financing of the truck on my credit score wouldn't be a concern. Of course, I would rather keep my cash on hand and finance one if that were an option considering the circumstances.

I'm afraid if I don't do this now (running my own truck) it will not happen once in a house and all that that in tells. It's funny how your money disappears through situations like this.

We are allowed to stay at our house currently after we sale the land also. So it's not absolutely necessary we move after selling but my wife will not want to stay long. The buyer bought our property for the land mostly to run cattle and isn't concerned as much about the house.

Thoughts?

 

We wouldn't be using all of the proceeds for the truck. I've talked to a mortgage lender about the subject but wanted to know what other drivers have experienced also. Thanks for your input.

 

Unfortunately, I am not. Thanks for your input once again.

 

Why do you want to know?