Getting a home loan? Bank wont accept my paycheck, company driver

I’m using fairway for my home loan.

 

Off topic but have had USAA for about 20 years car and life insurance, very nice and easy to deal with. Wish they would do commercial insurance. May have to check about refi on house

 

Wife and I were on vacation, a tractor trailer lost a set of duals and bounced across interstate at 3 am and totaled our car. USAA payed off the car in less than 10 days and gave me $3000.00 to help get me a new car. Had me a rental car reserved and our car towed. Didn’t try to low ball the value of the car. Paid it off no hassle. I have called around and for the savings of other carriers it isn’t enough to bother changing USAA. Not everyone’s experience will be the same. I bought my new car thru the app had financing in less than 30 seconds and at 2.25 % for new car. Customer service is just so #### good it’s hard to change for the piddly amount I would save.

 

Go to your bank or a lender that is local to you.

What are you going to save with Quicken that's not so quick?

$50? $75 month?

And if that's important to you, after your in your house for 6 months, do a refi with them.

 

As a company drive to fix this. Get and LLC or business identification number. Open and business account. With your check or settlement, direct deposit in business account then pay yourself as an employee hourly giving yourself the pay stub they need...and this builds business credit if you decide to go o/o later or decide get a loan for other ventures. Its a thought out the box....

 

He'll probably need to establish 2 years as a business owner ...

 

Need to establish 2 years either way.

As in taxes.

 

As a Company Driver, none of the above is even remotely necessary. As an Independent Contractor, yes.

 

I second having your realtor set you up with a mortgage lender. They are used to dealing with buyers who have all kinds of credit money issues and know which lenders are the most lenient.

I moved back to the US March 2016 (lived overseas for 13 yes prior). Got an OTR/W2/CPM per diem job April 2016 and by Feb 2017 I had pre-qualified letter based on less than 1 year income. They were willing to lend based on my last 3 payroll deposits. Didn't actually find and close on a house until June 2017 and at no time was *how* I got paid an issue.

I was sure I needed 2 years tax returns etc and they just laughed and said my credit rating and income were more than good enough and better than most of their clients.

 

My realtor did absolutely nothing for a lender for me.

Just checked my pre approval.