Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

User Stats

10
Posts
4
Votes
Tim Beadle
  • Professional
  • St. Louis, MO
4
Votes |
10
Posts

Financing for a tipped income person

Tim Beadle
  • Professional
  • St. Louis, MO
Posted

Hello everyone- I need your advice!

I am 26 working full time as a bartender and a part time real estate agent. I am looking to purchase an investment property, preferably a multi family unit between 2-4 units in St. Louis, MO. Unfortunately banks and lenders do not like seeing tipped incomes. I have been disqualified for a mortgage simply because I have not been at my job long enough. I make plenty of consistent tips (that are claimed on paychecks) but they still will not put it through underwriting. Is there any way around this? Any advice would be great!

I have a mid 700 credit score, meet debt to income limits, and have downpayment funds pending the price of the property.

Loading replies...