Getting approved for mortgage with untraditional income
I am trying to buy my first property however, I do not have a traditional job.I do have enough to purchase my own property. What are my options that I can use to get approved for a mortgage?
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Can you be more specific?
What is your job? How do you get paid? How often do you get paid? How long have you been at this job?
Non traditional income is not a deal breaker. Lender needs to know that the job and income is stable, even if averaged over the year. I did a loan for a woman that owned a Christmas tree lot, she made all her money in Nov and Dec, and didn't work the rest of the year. We averaged out her income over 12 months and we got it done.