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Updated about 4 years ago on . Most recent reply

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Tenzin Sherap
  • Saint Louis, MO
0
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Getting a home loan with part time job?

Tenzin Sherap
  • Saint Louis, MO
Posted

Hello BP!

I have been doing an ample amount of research and the only roadblock I see right now is my income. I am 24yrs old and saved close to $100k. Majority of it is invested in the stock market. Excellent credit score and paid off 2 cars. I was in active duty and have full VA. I do not want to use my VA now and was thinking of going conventional loan such as FHA. I intern and do deliveries on the side. Since the take home pay is around $700-800/week at the moment, how likely am I to get approved for a loan around $300-$400k?

I know my question is very vague.

Overall, thank you to anybody that replied to my discussion.

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264
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Joe Aiola
  • Real Estate Agent
  • Fleetwood, NY
235
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264
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Joe Aiola
  • Real Estate Agent
  • Fleetwood, NY
Replied

@Tenzin Sherap Congrats on getting started so early - seems like you are off to a great start!

Your best bet is to call a few lenders and ask them any lending questions you may have. Lenders will be able to tell you what you can qualify for, and can also tell you what you need to work on to improve your buying power. 

Another option is to bring in a partner who can handle the financing part of the deal.

Hope this helps and best of luck!

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