Updated over 5 years ago on . Most recent reply
Need ideas to get a mortgage with no job, property income
I need to move to NC. I am working now in NYC. But out of state I will have no job. I can't qual for a mortgage without one. I have been thinking of ways to get mortgage, and decided (reluctantly) that what if I get a duplex, live in one, rent the other, and use the property as income to get a mortgage. I know they do that in NYC. Not crazy about living with tenants, but I have RE experience, and it will provide me with income in my new state. I have downpayment and savings.
Can this work? Has anyone done this - not househack, but get the mortgage without a job as income. Thanks!