Best Banks For Working With RE investors W/out W2

[Justin R.]

About to start the dreaded process of working with a bank for a conforming loan. What banks have you worked with that offer conforming/jumbo loans (California) that understand RE investors income? I deal mostly with small regional banks and credit unions for my real estate business, but I definitely want to get tied up in a 30 year fixed conventional loan on my primary property.

I paid cash for the house and only have about 60 days to close on the loan, in order to take advantage of the primary home interest deduction. Even when I had a W2 job it was tough getting loans because underwriters took so long attempting to seperate out "one time expenses" vs ongoing expenses on my schedule E's. Without doing this I show a loss on paper year after year. 

Thanks in advance!!

[Justin R.]

@Grant Schroeder Thank you for replying. Besides some minimal K1 income, 98% is schedule E. Yeah I’ve worked with several banks in the past that have gone through and added back “one time “ expenses, some of the capex, and depreciation. It is always an arduous process though and ends up with underwriting issues 45 days in.

I understand every loan that is originated with the mindset of getting sold off to the secondary mortgage market gets scrutinized to the fullest. Just hoping there is a bank that has a reputation of working with better with unorthodox (non W2) income.

Hoping for better than a bank statement loan or regional bank 7yr fixed.

Thanks