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Updated over 8 years ago on . Most recent reply

User Stats

16
Posts
4
Votes
Jacob Song
  • Los Angeles, CA
4
Votes |
16
Posts

To buy a house, Do you need to prove that you have a Job?

Jacob Song
  • Los Angeles, CA
Posted

Hello, I have few questions. I am currently taking a break from my job. 

1) When you do a seller financing (owner financing) or other creative financing, do you always need to show them(Bank or to the seller) that you have a regular job salary that get paid monthly? if so how long does the history have to be? is there anyway that I can buy a house without a job status?

2) I have a house with pretty good equity. If I refinance this house I will have around $40,000 and want to invest in some other multifamily in the future. How does investing with my refinanced money work? Do I need to show them that I have a job? or Can I just explain them that other tenants are paying for the property?

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