Best loan for someone without 2 years of good tax history?

6 Replies

I am looking to get started out, but am having difficulty determining if there are any types of loans I can use.
I have excellent credit but I have a lot of gaps in employment over the last 2 years. Are there types of loans I can get? What about refinancing?
Ideally looking to BRRRR.

depends on what you want to do.

if you want to buy and hold and get the lowest rates offered then.. you need to tic all the box's

if you want to flip and use HML that will probably be fine if you have cash to put into each deal.

 @Jay Hinrichs :
I'm looking to buy and hold if its possible. What would be the best type of loan for someone without 2 years of good tax history?  
I'm mostly wondering if its possible for me to refinance a property if I get a fixer upper and fix it.

Ryan... some lenders are offering one year tax return.. but I don't know if that extends to rental props I know it does on owner occ...

loans are back in the market place for certain for income SFR's but ( and this is a very good thing) folks have to be qualified and tic all the box's we got in a mess last time our industry allowed less than qualified folks to buy multiple homes.

 @Jay Hinrichs :

What do you think my best options are?

Should I keep looking for conventional mortgages?

Are there other types of loans that might work for buy and hold?

Or should I just accept that I can't buy and hold unless i work a 9-5 for the next 2 years?

you need to go sit down with a GOOD mortgage lender in your immediate area and ask them for specifics.

Alright, sounds like a plan. Any tips for picking the best lenders?

Thanks for the help!

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