The 1099 vs W2 issue is a huge problem with mortgages. I used to have my own company, and I was paid 1099 for consulting. I’ve had the business for five years a

The 1099 vs W2 issue is a huge problem with mortgages. I used to have my own company, and I was paid 1099 for consulting. I’ve had the business for five years and it was profitable. however the Bank would not give me a conventional loan, so I changed things around and made myself my own W-2 employee. Started issuing myself paychecks and taking taxes out, and three months later I went back to another bank and they were happy to give me a 30 year fixed conventional.