Self employed and trying to invest in real estate
I have been self-employed for 8 months now and I’m having a hard time qualifying for a loan on an investment property. I have saved up for the down payment and I am excited to invest in Michigan since prices are lower and rental income is good. by jiriquez1976 from Clayton, Delaware. Apr 15th 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Every mortgage loan I am aware of requires a two-year work history if self-employed, so we can see how business is going, and average your income over 24-months. With just 8 months self employment, could you maybe find something? Sure, maybe, but the mortgage industry really doesn't have any programs for your situation.
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