In the process of getting RE licence.

[Austin Kuhnle]

How hard is getting loans and mortgages while being a independent contractor/realtor. Do you have W2s or file as self employed? And do you know if banks loan to you differently since its not "stable" income in there eyes or do they view it as stable income? I was just wondering as I will be trying to invest as well! And have already had an issue trying to get a HELOC being self employed currently. Thank you in advance.

[Brenden Mitchum]

Hey @Austin Kuhnle, welcome to the BP community!

First, independent contractors (most realtors), are not W2 but rather 1099.

It depends what type of loan you're talking about. If we're talking conventional, then it will be impossible to get a loan on your own until you have at least a year of income provable by tax returns. I believe many lenders even require two years. This typically is enough proof for them to see your income as stable and loan based on it. 

You'll have to get creative with financing or find a co-signer until you've built up enough income history. 

Hope this helps a bit. Please, feel free to reach out anytime if you have other questions or just want to chat!