Last January (about 17 months ago) I started a business in marketing/advertising and ended up making $100,000. I wrote off ~$22,000, so $78,000 net. I have already matched that income this year (as of 6/12/17), and am planning/hoping to to double that for this year.
My wife is a W-2 employee and grossed $27k in 2016…$22k net. Same expected in 2017.
The regulation says that I'd need 2 years of tax returns to even be considered for a mortgage, which would be late January 2018, but we are in a really crappy situation. We've been renting the same house for about 3 years, and just received a letter saying that the landlord is planning on putting their house on the market on September 1st.
Is there any way to take my 2016 income as well as my 2017 income (so far) and let that count as 2 years income taxes to get a mortgage?
We are really hoping to be able to find a way to buy a home and not move our entire family this Fall, and then rent again for 4 months before we can buy.
Any recommendations would be greatly appreciated!
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