Getting a loan using “Rideshare” income..

[Jamaih Lane]

* Not sure if I’m posting this in the right area. *

I am 22 yrs old, don’t have any debt, perfect credit score (750+) 2 paid off auto loans, 6 credit cards since 18 yrs old (60k available), on time payments, no student loans, I’m in the Boston area. Average decent duplex $500k~

My income from 2020 was $20k~ after deductions before deductions probably $50k. I just realized since I’m “1099k” I should not use as much deductions when starting out as my income might be to “low” for a loan. Oops.

I've about 20k saved, make roughly $5k/monthly. I am planning on house hacking a duplex or three family through FHA.

I just want to know what are my odds of getting approved and how much? I feel like I will get approved but for roughly $300k-$400k which to me isn’t good. Going to require rehab, and probably live in a hour away from where I currently am. As the closer to Boston, the more expensive. Which is ideal for house hacking obviously.

Thoughts?

[Lien Vuong]

I think speaking with your lender and a CPA are the appropriate next steps.