(Based in Arizona) What are my options? I would like to use 2 or even 1 years tax returns for a conventional loan with typically lower rates BUT the new Fannie guidelines calling for YTD P&L and recent two months biz bank statements may hurt me, as biz payments are irregular and most of 2020 income will deposited end of year.
Also another potential issue- I had an exceptionally good 2019 and 2020 figures will be less, though still a healthy and sufficient amount for the house price range I would like to apply for.
Am I SOL with conventional and/or FHA? Are nonQM or bank statement loans more suitable for my situation if I would still like to buy a home this year?