Updated almost 8 years ago on . Most recent reply
Getting a loan with low income
Currently in a very sticky situation. We are in a contract to sell a two family in North Jersey and should free up about $525k for a 1031. However, currently my father, who owns the property, has been unemployed for about 2 years. Is there a way to still get a loan from somewhere with basically no income? Would getting a commercial loan be easier? Willing to put high down in this scenario obviously. He is in the home stretch of his work life so want to get the best possible deal with cash flow to help his retirement.