Thanks for your feedback about sharing the Fairway Mortgage Nurse Practitioner loan program. Here is some more information about how they document income for 1099 independent contracts, which will apply to most traveling nurse practitioners.
As you might know, with conventional loans this can be a real challenge because if you don’t have a full two-year history, they consider you self-employed, and there’s virtually no way to get the loan done. The great thing about Fairway’s loan programs is they will allow a client to qualify based on 1099 income sometimes without any history at all. It depends on the employment contract, and how it’s worded, and if there’s some guarantees in there.
Often times they can do just an employment or offer letter for a 1099 or independent contractor. You don’t even need your first paycheck stub. Now if you’re already on the job, no problem. They have solutions for that as well. If you’re an independent contractor, you’ve run into some challenges getting financing, or you anticipate you might run into challenges, I welcome you to contact them through their website at: https://nursepractitionerhomeloans.com/ for more info.
