Best financing options for crazy income situation & down payment requirements

[Emily Simmons]

So I have 1099 income, business income, and unearned income from two different sources. It doesn't add up to a ton, but it's livable. My credit is over 750, and I've owned my home for close to 20 years, and have a good bit of equity in it. I can't get a conventional loan because of the crazy income situation, so would I need a DSCR loan? And how much would a lender want to see for cash on hand? Is a home equity loan ever a good idea? I ran the numbers last month, and it seems like it would eat into my gross a good bit. I'm looking to buy STRs, fwiw.

Any other advice is welcome!

[Jason Wray]

Quote from @Emily Simmons:

@Jason Wray I didn't specify; I'm sorry. It would be for STR properties. I already have a primary.

Then Yes DSCR and all of the bove options 1099 program, Bank Statement, and trying to maximize income using Portfolio to get an excption if the back end DTI is above traditional.