Loan options for primary residence

4 Replies

Hey BP!

I am on the hunt for financing and I’m the early stages of talking to lenders. Found out that my income and taxes are the issue for my pre approval being complete. And I know all problems have solutions to them. I’m asking for what your solutions would be and what might you have done to get your pre approval?

A few options I found already that would be beneficial is owner financing, partnerships, and PMI. (Tried HML and because this will be my first deal, none were willing.)

You mentioned income and taxes as the issue. Are you having issues with how your taxes are prepared having deductions and write offs reducing your total income? You can always show bank statments for qualifications where the bank/lender will use your gross deposits as income. If you do not make enough money you can add a Co-borrower to the loan family member, friend, business partner. You can always buy for less to qualify and have the seller do a seller held second.