Hello! So I've been looking at some properties to owner occupy (But turn into a rental in short order! Hopefully I'll find something good for a live in BRRR), and with how screwy everything is with financing right now I've run into some interesting issues. I'm self employed and due to a few factors traditional plain vanilla bank loans are off the table for now, but I have the income and cash to get something done. I'm looking to buy in an area where prices are pretty low (A certain part of Northern Idaho), I am moving there myself to cut costs so I can invest more. Think 3 bedroom fixers under $100K to just above $100K, nice/bigger houses can still be low $100s depending on size/quality/location, up to maybe $200K for pretty large/nice and renovated places.

Other than finding a straight up owner finance situation, I'm basically looking at bank statement loans (For those not familiar, basically basing income off of the cash flow you have in your bank accounts for approval process) or private money, unless I'm missing something even more clever! Feel free to throw out other ideas. But really I'm hoping for some good tips on bank statement loan companies that are actually still lending right now.

Basically with the 25-30% down with private money I have found I'm pretty limited in what I can buy because I don't want to go over $30K down, not to mention the rates... But bigger lenders that do bank statement loans @ 20% down (was 10-15% before Covid) don't want to finance under $150K. So I have a big hole in what I can purchase RIGHT at the price point I probably want to purchase in! There are sub $100K deals, and I just got swooped by a fast close offer on one literally yesterday (Unless the deal falls through, I am official backup), but they're just rare enough that I'm worried about the timeline for my move. Needing to be closed within say 2-2.5 months means I can't dilly dally TOO much with waiting around.

I tried and found some companies that do bank statement loans still, but their criteria right now is a little wacky as mentioned above. Sprout Mortgage and HomeExpress are both doing those products again (They weren't for awhile), but they've changed criteria because of Covid. Basically you need to be at $150K financed, 20% down, and probably some reserves too. IIRC one or both of them were also going down to $100K financed before Covid. UGH! I've heard basically nobody else that was doing these is back into the game yet, but I'm hoping some others are and I just didn't find them yet.

So does anybody know of a company that does bank statement loans of under $150K that's actually going right now? Obviously it would be amazing if they were still doing lower pre Covid down payments, but 20% even would help me extend my buying power to right where I need to be, and the rates are still much better than private lenders.

Thank you in advance for any advice for recommendations!