1099-R vs W-2 for Lenders
It is my understanding that financial institutions prefer to borrow to those with a W-2 showing solid income. I am about to retire from the military and will be receiving a 1099-R for my pension (I will also be self employed).
My question is: In the absence of a W-2, do lenders consider (or even look at) 1099-R proceeds from a pension as favorable for lending?
To add context, I intend to borrow using portfolio loans under LLC's for rental properties. I understand that these loans will usually require me to sign for them personally. Yes.. I have read every comment on the internet regarding using a conventional loan then transferring to an LLC, but I am still not convinced that hiding from the possible due on sale clause is a smart move.
Thanks!