Getting mortgages without income

9 Replies

Hello everyone,

I am a total newbie to RE investing, but I have a quick question. If I have money in my savings I inherited (around 200k USD), 100,000 in student loans, and no income, can I just buy a property (maybe using cash-out refinancing), and keep on getting more mortgages on multiple properties with almost no income? Or will lenders not approve me due to lack of income? I have a long and great credit history, close to 780 across all three bureaus. My goal is to use the money from the property to pay for my student loans if I decide to attend graduate school. 

If income is required, I can start working while in school and have a net income of about $50k after taxes. 

Thanks,

Shivam

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Originally posted by @Shivam Sahdev:

@Bruce Woodruff I’m really leaning on not going to graduate school, most likely I will spend the time on furthering my skill set instead so that I can pull at least 6 figures by my late 20s

 Get as much RE and construction experience  as you can instead of Grad school. It'll pay off much better and probably be more fun......