Commercial loan without W2 income

10 Replies

Hey guys,

Just a question here, can you get a commercial loan for a small apartment building (8 units) without a W2 income? Price is $400,000, I have good credit, the 25% down payment and cash flow from other properties I personally manage. But don’t have a W2 job. If this is posible, can I please get names of lenders/ banks.

Thank you in advance!

@Maria Luna I agree with Danny Randazzo. Also, because the property you’re buying has 8 units, it is technically a commercial multifamily property so the lenders will be more focused on the deal and business plan than whether or not you have a W2 income. That said, you may also want to look into having someone be a key principal on your deal should the banks/lenders have a strict net worth requirement.

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@Maria Luna in theory yes you should but I find this varies a lot by bank. You may run into difficulties with some banks on this. If you have 2 years of tax returns showing the income of your properties then I think you will have a lot less issues.