Yes you can, income has to extend at least 3 yrs from the closing date, so the contract should be longer than 3 yrs since you will be verifying this prior to closing. Are you paid with W-2 or 1099 Income? If you are self-employed in your position and have a 2 yr history of filing your returns this way, you can also qualify as a self-employed individual in your field, and the 3 yr contract won’t be necessary, but if not technically self-employed(Sch C Income)and you recieve pay checks from the Temp Agency,you need at least the 3 yrs or a full time position. Thanks, Dan
Lenders are interested in steady income with the future looking just as steady. Yes a contract would be better, but a long term working relationship with one company is good too.
Your best bet is to take your excellent credit and low debt to income ratio and talk to a few lenders and see what they have to say. Refinancing at these low rates (if it is at least ½ of a percentage point below your current rate) would be a smart move.