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Updated about 5 years ago on . Most recent reply

User Stats

144
Posts
35
Votes
Mary Ann
  • Investor
  • Polk County, FL
35
Votes |
144
Posts

Need ideas to get a mortgage with no job, property income

Mary Ann
  • Investor
  • Polk County, FL
Posted

I need to move to NC. I am working now in NYC.  But out of state I will have no job.  I can't qual for a mortgage without one.  I have been thinking of ways to get mortgage, and decided (reluctantly) that what if I get a duplex, live in one, rent the other, and use the property as income to get a mortgage. I know they do that in NYC.  Not crazy about living with tenants, but I have RE experience, and it will provide me with income in my new state. I have downpayment and savings.  

Can this work? Has anyone done this - not househack, but get the mortgage without a job as income. Thanks!

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