All Forum Posts by: Matthew Ferguson

Thank you everyone for your time and thoughts. My wife and I currently work full time. I'm a sales tax auditor with my MBA this December and she is a registered nurse. I currently work 40hrs, study 15hrs, and work at my church 8-15hrs per week. The program is 15 or more credit hours per semester with an internship, and several other obligations (at the Master/Doctorate level). I'm certainly not opposed to working hard but unfortunately most people cannot work more than 15-20 hours per week and excel in the program. I'm planning on working part time 8-15 hours per week maximum while in the program. My wife may be able to work part-time especially as a registered nurse. We were considering renting that first year or two, working part time, and see if we can qualify for more traditional financing although we'd really enjoy purchasing earlier. Although, renting may not be so bad considering everything involved with a big move. I'll certainly check out Sofi and look further into some type of seller financing. Thank you all very much for your help (feel free to send anymore advice my way). If anyone ever has a sales tax problem send them my way :)

Tim, I sent you an email and would love to talk at your convenience sometime. If not for this coming year perhaps sometime a little longer down the road @Tim Swierczek .

Hi BiggerPockets' Friends,

My wife and I are moving from Florida to Minneapolis for my seminary graduate studies (4+ years). Our hope was to house-hack with a duplex, or perhaps triplex, to help offset my lack of full time employment. We were also hoping my wife can only work 8 hours a week so she can be with our children. The problem I've faced is that no traditional mortgage broker or banks are willing/able to finance our purchase due to an anticipated lack of employment. We have no debt, $100,000 in cash (about $30,000 for the down payment/closing costs), are currently employed, and have the professional experience to get good paying part time work. 

Can anyone please provide some guidance regarding how to get the financing we need? Most lenders have said they cannot provide the loan until they can verify we have fairly full-time income, within the same field we are already practicing. Are there some alternatives to this mainstream, W-2 income driven, lending method?

Thanks for your time, consideration, and help

Matt