Buying Property Without a W2 Job

[Tim Walsh]

I am wanting to purchase a property for a possible brrrr. I know my first option I am looking at is long term rental. I switched over from a w2 job to being an independent contractor this year, but I do have a house I purchased years ago with an FHA loan. I have had a signed lease on this property since 2/1/2023 with great tenants. What are my financing options? Thank you and I apologize for how the post reads.

[Daniel Christopher]

Quote from @Tim Walsh:

I am wanting to purchase a property for a possible brrrr. I know my first option I am looking at is long term rental. I switched over from a w2 job to being an independent contractor this year, but I do have a house I purchased years ago with an FHA loan. I have had a signed lease on this property since 2/1/2023 with great tenants. What are my financing options? Thank you and I apologize for how the post reads.

If you are having trouble qualifying for convention with your current W2 income or job status/W2 track record then DSCR loans is a great option. With DSCR loans we can qualify you with the properties income rather than W2 income. DSCR loans is our bread and butter so if you need any help with a quote feel free to reach out or check out our website.