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Updated about 5 years ago,

User Stats

5
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0
Votes
Ho Chi Chris Cheung
  • Investor
  • Houston, TX
0
Votes |
5
Posts

(I’m an employer)difficulty qualifying a conventional Loans

Ho Chi Chris Cheung
  • Investor
  • Houston, TX
Posted

Hi Guys, I’m new to the forum - Seeking advice on my situation of buying my first 2 rental properties with conventional loans with 20% downpayment ! 

My situation is - I’m an employer of a S corp and have W2 from my company- Went to local mortgage company to qualify for 300K loan - the  mortgage agent told me that even with W2 - the lender will run 3rd party check to find out I’m the owner of the company- which is no go. He also said that my company will to be around for 2 year at least. 

Is there any way to qualify for the loans?

Anyone have any input to this really appreciated !

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