Financing options without a W-2 Job

3 Replies

Does anyone have experience with refinancing a home with just the rental income generated by the property as the reported income to the lender? As in will a lender refinance a property only taking into consideration rental income for that specific property or will they still typically require W-2 income?


If you're talking about a single family home then you're going to have to use a conventional bank who will use Fannie Mae rules which means you must have sufficient w2 income.

The only way we have been able to get around this is by buying 4 properties and then doing a commercial loan on those 4 properties. For commercial loans they do not go by Fannie Mae and therefore w2 income is less important and the loan is more about the properties. 

@Megan Clancy   There are lenders who will lend on 1-4 unit properties and not require W-2 income.  PM me for details if you like.

Thanks for the responses, I don't have a specific deal in mind right not, was more just looking for some general information because I'm planning to quit my job soon to pursue a self-employment opportunity and was wondering how my lack of W-2 income may affect my lend-ability until I build up my business and am able to generate sufficient income from that to acquire new/refinance current rentals 

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