Updated over 6 years ago on . Most recent reply
(I’m an employer)difficulty qualifying a conventional Loans
Hi Guys, I’m new to the forum - Seeking advice on my situation of buying my first 2 rental properties with conventional loans with 20% downpayment !
My situation is - I’m an employer of a S corp and have W2 from my company- Went to local mortgage company to qualify for 300K loan - the mortgage agent told me that even with W2 - the lender will run 3rd party check to find out I’m the owner of the company- which is no go. He also said that my company will to be around for 2 year at least.
Is there any way to qualify for the loans?
Anyone have any input to this really appreciated !