WESST Blog

At WESST, we champion New Mexico’s entrepreneurs with consulting, training, and lending to build thriving businesses. Yet, for many, the path to homeownership—a key to financial stability—can be complex, especially when transitioning from traditional W-2 employment to 1099 self-employment.

 

Self-employed individuals often face stricter scrutiny from mortgage lenders due to variable income and business-related tax deductions that can reduce their qualifying income. This makes specialized guidance essential.

 

We were thrilled to have Jennifer Wilson, WESST Visionary + Associate Broker with RE/MAX SELECT, and Jeree Hindi Tomasi, Senior Loan Officer with New Mexico Mortgage Advisors, design and deliver the Homeownership for Entrepreneurs training on 3/26.

 

Jennifer and Jeree expertly covered:

• How lenders view self-employed income and credit
• Essential financial documentation
• Navigating the W-2 to 1099 shift for mortgage applications
• Balancing business finances with home buying goals
• Understanding the difference between loans

 

This training provided a vital roadmap for entrepreneurs, demystifying the journey to owning a home. Thank you for supporting WESST as both a Visionary and an educator, Jennifer! Your expertise empowers our clients to confidently pursue their homeownership dreams alongside their entrepreneurial ambitions.