1-year self-employed trying to find a second house hack

[Matt M Antonio]

Any savvy RE-friendly Lenders in my area (Eastern Washington)? Need to pick your brain. I have just passed my first year as a self-employed and looking to get my second property. However, I cannot go with the traditional leading since banks need 2 years of tax returns as self-employed. Besides seller financing, I've heard about Non-QM products but no lender has yet offered me this. I think I'm talking to the wrong people and need to find someone that specializes in this situation. Any leads would be appreciated greatly!

[Andrew Freed]

@Matt M Antonio - Good question! Can you find a local portfolio lender from a small bank or credit union. There are a ton of local banks around me that offer owner occupied low downpayment loans but are portfolio lenders for these types of products meaning they hold the loan in house. When they do that, they have the ability to sway from normal Fannie Mae and Freddie Mac requirements which require a certain number of years of employment and a multitude of other items. 

For instance, my partner owns a gym and was self employed for a year. He ended up finding a local portfolio lender that allowed him to househack a couple properties with minimal employment. It's out there, you just have to be willing to make the calls to dozens or hundreds of banks or go on local facebook investor groups and see if anyone has any recommendations. I'm positive you can find a lender that supports this type of product, it's all about putting in the sweat equity to make it happen and not taking no for an answer!