Advice on Mortgage Getting Denied
Hello BP,
So I had planned to house hack (live-in flip) over a year ago, and I planned on talking to lenders and getting the whole loan process started in March and hopefully done by May, to put offers on houses and close in June/July. After talking to this one lender for a month now, he is just now telling me that I won't qualify for a loan because I am a part time worker, and I had a two month gap in my work history over a year ago.
I am having my parents as cosigners on this property, as I don't have enough income to get a house of my budget on my own. I thought the cosigner would help out with the low income and work history gap. Is there no way around this? I had been talking to this lender for a month and I just feel like he wasted so much of my time only to tell me that until I work two years without a gap and as full-time, we can't get a loan. Is that going to be a problem with all lenders, or was that just this lender that didn't want to take on that risk?
If anybody in the San Antonio area knows of a lender who can help me out with this, that would be great!