Non-conventional owner-occupied loans?

[Brian Garrett]

What type of commercial/portfolio loans exist for those looking to owner-occupy either a SFH or MFR?

I don't qualify for conventional Fannie/Freddie loans due to the lack of income reflected on my tax returns.

I'm currently renting but I've been thinking about possibly house-hacking a multifamily or just buying a primary.

I've heard about owner-occupied portfolio loans on a few different podcasts but I rarely see it discussed.

Does anyone have any first hand experience or insight they could share with me regarding the possible options?

I have great credit, healthy cash reserves and no debt so I check all of the other boxes outside of the income aspect.

I'd like to stop renting and purchase something instead where I can be gaining equity, appreciation, tax benefits, etc.

Any commercial/portfolio lenders here on BP familiar with the owner-occupied programs that are out there?

[Brett Nissen]

I just closed on an owner occupied duplex at 10% down using a portfolio loan from Ameris Bank (not sure if they have a presence in SoFlo). The reason I went portfolio loan over conventional is because I took a year off to travel the world, and conventional lenders did not like this. With a portfolio lender I simply wrote a LOE and was good to go. I would recommend calling around to local credit unions, or asking around at your local REIA groups to find a portfolio lender.