Tip income question for a loan....

[Travis Henderson]

My W2 shows I make 34k a year. My job has a tip compliance agreement with the IRS that taxes us on $12/hr in tips. I actually make around 33k a year that doesn't show on my W2. I have the option to report the additional tips and get them on my W2 but of course I'd be taxed on that as well. The tax free income is great but doesn't allow me to qualify for much of a loan without a huge down payment. Are there any decent loan options that would suit someone in my situation? If I could show a daily tip log and weekly cash bank deposits would that help? I know most conventional and FHA loans aren't flexible with unreported income, understandably. I have zero debt, and my credit score is 760+. I'd like to qualify for at least 260k. Any ideas would be appreciated

[Wayne Brooks]

 Nope, if you don’t report it, it doesn’t exist, as far as qualifying for a loan.