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Updated over 7 years ago,
Partnership between credit partner & income partner - multifamily
Hello BP Community!
Today I come to you with a question about a partnership and a financing question.
Goal: Purchasing a multifamily in commutable distance to NYC.
Potential Partners: One partner has a high paying (250k annual) W2 income but not good credit (below 600 - ouch :/!). The other partner doesn't have a W2 income but has great credit (760!).
From the perspective of the lender, is there a financial product for which they will consider this partnership by accepting the credit of one partner and the income of the other partner?
Thanks in advance for you time and knowledge!