Self-Employed Less Than 2 Years in New York

Does switching from W-2 to 1099 with the same company count as self-employment?

Lenders generally treat 1099 income as self-employment, even with the same company. The fact that the work, client and pay are largely unchanged is a strong point, because it shows continuity. Bring both your old W-2s and your new 1099 records, plus anything showing the arrangement, so the underwriter can see the connection clearly.

Can I get a mortgage if I have been self-employed less than 1 year?

It is possible but difficult. Some non-QM programs may consider a very short history when you worked in the same field before and your business income is steady, while many lenders will want a longer record. Asset depletion is another path because it does not rely on business income. Programs differ, and all loans are subject to credit approval.

Can a P&L help if my business is new?

Possibly. Some programs accept a P&L prepared or verified by a CPA, EA or licensed tax preparer, often paired with business bank statements, as a way to document income before a return is filed. Each program sets its own history standard, so ask whether a P&L is accepted for a business with your history and what support it needs.