Getting a Mortgage without W-2 Income

[Anna Maher]

I'm considering quitting my W-2 job to focus full time on my real estate business.  We have enough passive income to live on and would supplement with house flips, etc. Does anyone have experience with how this would impact my ability to get a mortgage? If I have family/friends with good w-2 income that are willing to co-sign is that an option? 

[Stephanie P.]

Originally posted by @Anna Maher:

I'm considering quitting my W-2 job to focus full time on my real estate business.  We have enough passive income to live on and would supplement with house flips, etc. Does anyone have experience with how this would impact my ability to get a mortgage? If I have family/friends with good w-2 income that are willing to co-sign is that an option? 

 There are numerous loan products that don't require income verification. They are more expensive than conventional so that should be your first option, but they're a lot less expensive than losing a nice deal.