Can’t get a mortgage

[Karine Arditi]

I can’t get a mortgage because I had a COVID year and did not work but have the funds for real estate.  I have enough for a down payment and enough for emergency fund+3 mos vacancies.  Just can’t get a loan because they need a regular paycheck (instead of just having financial security).  Can’t find a co-signer because, surprisingly, the people I know do not have a regular income either (ie business owners that write off expenses and tax deductions).  Please help.  What do I do next? How do I get a mortgage.  The rates are low.  So I would love to get in now.  Thoughts? 

[Joseph A.]

Find an investor friendly lender that does asset based loans. Your interest rates are going to be higher than your traditional financing but it's what I use because I've been self employed since 2018 and my tax situation has my income being too low to qualify for traditional loans due to all of the depreciation.