Does my type of income qualify me for a conventional loan?(Bank statements loan?)
Hello all,
Just a general question. I primarily work with hard money lenders to satisfy my needs when it comes to my projects as a fix n flipper, however there is also benefit if I'm able to work with conventional loans, such as possibly getting FHA approval to buy a multi-family property.
The issue is, my income isn't consistent which I know is a problem. I don't receive monthly deposits, instead its just large deposits every 4-5 months or so. I know there's the option of getting loans based on bank statements, but even with this information is it possible to get a loan still? Or, am I gonna have to tough it out longer until I'm generating monthly income?
Thank you!