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Private Lending & Conventional Mortgage Advice

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Daniel Callahan
  • Milwaukee, WI
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31
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Any 1099 employees struggle getting financing?

Daniel Callahan
  • Milwaukee, WI
Posted May 27 2018, 13:19

Hey ya'll, 

So I recently got a job that's going to be paying 100% commission after my training is over. I've read a bit on how its harder to obtain financing as a 1099 employee vs a W2 and how lenders typically want to see at least 2 years of earnings before they consider lending you out a loan. Are there any 100% commission based people here on bigger pockets that may care to share there experience with trying to go the conventional lending route while being 1099? Because I just started this job I don't want to have to wait 2 years before I'm eligible to aquire a conventional loan. I'm thinking I may have to be more creative with my financing if I want to invest by the end of this year. 

Thanks Everyone! 

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