buying a house

[Brandan Leon]

I want to buy a house. The situation is I've been a plumber for years and I know banks want you to have the same job for two years with taxes. But I want to get back into selling solar because of a lot more money. I want to purchase a 4 unit duplex this year. how would this affect me and how should I go about this? Thanks in advance

[Michael Castro]

Quote from @Brandan Leon:

well from what I'm hearing FHA loan is @ a better rate right now with no pmi. Yea I'm trying to reach out to the right people as much as possible.

FHA always has pmi, and it never goes away (assuming you're trying to put the min down). The best thing you can do is actually get pre approved and ask your lender.

Also- if you have a lot of cash, (self employed with a lot of real estate tax write offs here) I was able to put my cash in a trust, get a letter saying it pays me $X amount quarterly, and that counted as qualifying income.

So I used my cash as "income". Then after closing dissolved the trust and cash back in my bank.