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Updated over 7 years ago, 07/12/2017

User Stats

2
Posts
2
Votes
Marco Acampora
  • Investor
  • Chatham Kent, Ontario
2
Votes |
2
Posts

Getting mortgages with low employer income shown

Marco Acampora
  • Investor
  • Chatham Kent, Ontario
Posted

I've been a server at a high end restaurant clearing $55,000+ every year, but only showing $15,000 on paper. I currently have 3 single family homes mortgaged with the bank, and no longer can keep building my real estate portfolio due to very low employer income, so it looks like i cannot support another mortgage. any way around this to keep building? is private lender at high interest rate the only way? HELP please

User Stats

2,367
Posts
746
Votes
Harjeet Bhatti
Pro Member
  • Lender
  • Glenview IL- CDLP NMLS#230554
746
Votes |
2,367
Posts
Harjeet Bhatti
Pro Member
  • Lender
  • Glenview IL- CDLP NMLS#230554
Replied

Traditional lending is not possible.  You can try portfolio lender,If you can show  income through 12-24 month bank statements.  

  • Harjeet Bhatti