Creative Financing Without W2

[Dainen VanGorkom]

Hello all,

Does any have any advice or strategies for securing long term loans with no W2 income? I have one rental currently, however I am having trouble finding financing for me next one? Lenders that I have talked to either want more than 25% down or want me to wait 1+ years to make sure my income is stable. Thoughts?

Thanks BP

[Sanat Bhandari]

@Dainen VanGorkom There's a couple options for financing without W-2 income (in no particular order):

- Portfolio loans from a local bank/credit union

- Commercial/DSCR/Investor Cash Flow (ICF) loan through a broker such as myself

- Bank statement loans (where your last 12/24 month bank statements are added up to qualify you for a mortgage)

- P&L loans (based on P&L statement prepared by a CPA) 

- Seller financing for a period of 3-5 years following which you can refinance into a long term loan (one of the above/agency loans)

- Subject to (assume seller's long-term mortgage)

There's a few more niche strategies for the same (lease options, land contracts, etc) but this covers most of your options