Lender financing without a W2

[Matt F.]

Hello, I'm considering starting a new commission-based job. In the two years it would take to establish my income substantiation, is the a path to getting BRRRR properties refinanced?

- partnering and putting it under partner’s name?

- having a co-signer?

- other?

Thank you!

[Seth Wilcock]

Hi Matt - this is a great question, although somewhat difficult to answer without having all the details. If you're a commission-based employee now and you're moving to a new commission based job in the same line of work, you'd likely be fine since you have the 2 year history of receiving commission income in your field. If you don't have a history of receiving commission pay in your current job and are moving to a commission role, then you'll likely need to establish the two year history. 

The other options (as you eluded to already), are to add a co-signer, co-borrower, or document other sources of income to help you qualify. 

Will the new job be 100%commission or will there be a base salary? Any kind of guaranteed commission (E.g. you won't make less than "x,xxx")?