800 credit / self employed/avg 75k gross

[Juan Jackson]

Lender mortgage broker loan officer financing georgia

BP Members,

I need some adivice. I have a client who want's to start investing in real estate. He is interested in multifamily or a flip property. He is concerned about the type of loan product to apply for considering that he is self eemployed with an average gross of 75k and net under 15k (w2) last two years). Credit score is @ 800. Debt is 60k in student loans (monthly payment is $0). Mortgage is 92k 670 month (rented for 1100/month). CC debt 6k. 

Some concerns are owner occupancy requirements, seasoning, and down payment. 

How can I direct him to the right financing product?

[James Syed]

@Juan Jackson

Welcome to BP. 

Hopefully a lender / loan officer respond to your post. I am a commercial property broker. Based upon net income that you had indicated, your client can be approved for a smaller loan. Lenders go by your reported income to IRS along with excellent credit score, deb to income ratio and many other things. 

@Josh C. Your comments are a harass. BP members are here to help.