Need Help/Opinions/advice on first deal financing!

[Joshua Meyers]

Hey all I'm in a bit of a sticky situation. I have a good paying W2 job(>$30/hr) as a poker dealer in Pittsburgh. I've been there approx 1 year. The problem is I only make $4.50/hr base pay and the rest is through tips(all of which are 100% turned in). My hourly rate is very consistent. With that being said there was about a 6 month period where I was in school/unemployed before I got my job. Every lender I've talked to so far wants 2 years worth of employment history to even consider me. Right now my monthly gross is right around $3500-$4000 but the lenders won't take into consideration that amount. They will only use my base pay($540/month) plus 75% of whatever the rental income is on the property I'm considering. Is there any way around this problem besides waiting another year before they can use my tax returns as a basis to judge my income by? I'm looking to get FHA financing and my credit score is approx 700ish. I'm 22 years old. Thanks to for the help and advice guys!

[Matthew Ficorilli]

From my experience, to get FHA or even conventional financing, you may have to wait it out. You can try owner financing if you're dealing directly with the seller.