Self Employed Lending Options

[Jewel B.]

I am self employed and curious as to my lending options.

I file my taxes and claim all my income and make my deductions.

I will be using 2021 and 2022 tax returns.

I am 100% owner of an LLC S-Corp.

My self employed income starts in 2021 and my LLC was founded January 2022.

I have a business credit card and bank account.

My income when working is consistent and predictable. However, the hours I work are inconsistent (by choice) as I do freelance and contract work (no 1099) and like to travel etc. My 2021 and 2022 incomes however are consistent with one another.

My 2021 income also includes a fairly small amount of W2 income, as well as some stimulus check and unemployment BACKPAY income. (I returned to work August 2020)

I will be working regularly from later September 2022 through the foreseeable future, so I will have bank statements to provide.

I will be filing my 2022 tax returns in February so I would be looking at more conventional lending in March.

I make quarterly estimated tax payments.

Credit score high 700s. No debt.

I am looking for either SFHs (STRs, MTRs, Section 8, student housing) or small MFHs (student housing, MTRs, LTRs).

Locally, I'm in Allentown, PA. OOS I would be looking primarily at NC, possibly WV, at this point (Midwest and South).

I'm foremost interested in STRs, MTRs, and student housing.

What types of loans am I looking at for my situation?

[Robin Simon]

Quote from @Jewel B.:

I am self employed and curious as to my lending options.

I file my taxes and claim all my income and make my deductions.

I will be using 2021 and 2022 tax returns.

I am 100% owner of an LLC S-Corp.

My self employed income starts in 2021 and my LLC was founded January 2022.

I have a business credit card and bank account.

My income when working is consistent and predictable. However, the hours I work are inconsistent (by choice) as I do freelance and contract work (no 1099) and like to travel etc. My 2021 and 2022 incomes however are consistent with one another.

My 2021 income also includes a fairly small amount of W2 income, as well as some stimulus check and unemployment BACKPAY income. (I returned to work August 2020)

I will be working regularly from later September 2022 through the foreseeable future, so I will have bank statements to provide.

I will be filing my 2022 tax returns in February so I would be looking at more conventional lending in March.

I make quarterly estimated tax payments.

Credit score high 700s. No debt.

I am looking for either SFHs (STRs, MTRs, Section 8, student housing) or small MFHs (student housing, MTRs, LTRs).

Locally, I'm in Allentown, PA. OOS I would be looking primarily at NC, possibly WV, at this point (Midwest and South).

I'm foremost interested in STRs, MTRs, and student housing.

What types of loans am I looking at for my situation?

You are likely going to want to look for a non-QM probably particularly a "DSCR" non-QM loan. Non-QM is really designed for people in your situations that don't have W2 and are self-employed, DSCR is a subset of non-QM for investment properties specifically, and are typically the best for for STRs and MTRs