Connections to Portfolio Lenders?

[Eliza Sparks]

Hello! My husband and I are active real estate investors and both left our corporate jobs in the last two years. Since we haven't been doing this for 2 years, we won't qualify for a conventional mortgage. We're starting to strategize how to make our next move/buy our next property, and I'm wondering if anyone has a connection to someone who would originate a mortgage from a bank statement? Any other ideas or strategies that have worked for others in this situation, aside from seller finance or creative financing directly with the seller?

[Nick Belsky]

@Eliza Sparks

Please clarify, are you looking for financing for a primary residence or an investment property?

If looking at investments, bank statement isn't really a great option. DSCR is far superior and won't require work history either. There is really no reason to choose bank statement over DSCR, I can't think of a single good argument.

For primary, bank statement is a viable option.  Lenders vary greatly in their guidelines so working with a mortgage broker who understands your scenario and finances will be key to finding the right lender and program.  If you have assets, asset depletion loans is another possibility.

Cheers!