Loan ideas for self employed.

[Jachob Johnson]

I'm looking for my first real estate property and have just started practicing running numbers in the calculators and analyzing deals. One issue I'm having is when I get to the loan sections I'm filling in just round estimates and I'd like that more dialed in with a loan I'd actually get approved for. Would I just go online for quotes to find that out? Second question would be is there better loans for people who are self employed or loans that I'd have a better chance of getting approved for. I'm hoping to use FHA and about 3.5 - 5% down on possibly a multi family home that'd I house hack or single family that would be a live in flip . Any advise or ideas would be awesome to help me get a better plan.

[Ash Hegde]

As Andrew said, speaking with a lender getting pre-approved is probably the best way to get more firm numbers and options so you can do further analysis and go shopping. 

Are you able to document two years of self-employed income with tax returns? The reason I ask - there are bank statement loans and other non-QM products that will allow you to get a mortgage without that documentation, but the FHA 3.5% house hack is not one of them. You would likely be looking at 20-25% down.