Getting preapproved workout income?

[Forrest Hollingsworth]

Getting preapproved *without* income 

Hey Bp,

I've finally decided it's time to purchase my first investment property (live in house hack). I have savings from my days of bartending a few years back and what I've been paid "off the books" since the start of the pandemic. Also, I have my IRA and brokerage accounts totaling 65k and about 25k in crypto. I'd be comfortable putting 20% down on a $200,000 house but would prefer to do 10% or less. This will be a fixer upper to rent.

The question is, is it possible to get approved for a mortgage without having a source of income for the last couple of years? I will be moving to Richmond, Virginia in the fall and plan to begin working 40 hours a week welding, with good pay.

As of right now I am planning to get a three bedroom fixer-upper.

Thanks!