How to secure morgage with little taxes shown?

Question

Hello everyone, I've made the misake of working mostly for cash at my job so my taxes are horrible. How do I secure financing for a property that i want to buy hold and rent out??

Stephanie P. · Answer

@natalie kolodij

Great point

@bryan machado

Pm me please. Point about portfolio lender is very valid

Natalie Kolodij · Answer

You can also start working legally- that will allow you to get normal financing.

Bryan Machado · Answer

Wow.. that really helps I was starting to think that I'd have to wait another year thanks so much for the input.

Andrew Postell · Answer

@Bryan Machado you will want to seek a "portfolio" loan. Portfolio loans are a bank's private money. Conventional loans, governed by Fannie Mae and Freddie Mac (if you recognize those names), require your taxable income to be reviewed. Portfolio loans can ignore taxable income and will approve you with different conditions. But you will still need to have good assets and good credit. Also portfolio loans usually carry a higher rate. Just search out some small to mid-sized banks in your area to learn about what local portfolio loans are available to you. Thanks!

How to secure morgage with little taxes shown?

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