Help with Conventional Loans?

[Amber H.]

Hi, all!

Still soaking up knowledge here. I have a kind of specific question about conventional loans.

I have been networking with local real estate investors in my area and actually was blessed to have the opportunity or a shot at a job in the field. However, I had to put that thought on hold - because I haven't secured my own housing let alone any deals and the general idea is that you need to have 2+ years in the same job/field in order to be approved for conventional financing (I would like my first deal to be conventional so that I can benefit from the low % down).

So here's some questions:

If I stayed at my current job 1 day of the week and tried to take on this new venture, would I still be eligible although majority of my income would come from the new job?

I'm a student and have been for several years. I'm assuming these loan officers aren't going to dig in what career path I'm taking - could this be used to my advantage in this case?

Or should I potentially let this stuff just go by, hoping that by the time I'm ready that it will still be on the table?

Thank you,
Just feeling a little bit stuck.

[Matt H.]

You certainly can't get the no doc loan I got for my first house pre crash but there is always a way. Try 20 banks, find a partner,  find a co signer, do whatever you need to, except wait two years.