Looking for advice from lenders!

[Meibae Wu]

Hello!

I have a client who is eager to invest in real estate however, they have been on a sabbatical from their W-2 career. I am aware that lenders require 2 months paystubs for pre-approvals however, they have not been receiving any income for the past year due to being on sabbatical. 

They have a healthy savings and are ready to invest.

How would you proceed with this situation? What advice would you provide this client?

Thanks in advance!

xoxo,

Mei Bae

[Devin Peterson]

This client seems to be a perfect fit for a DSCR loan. No W2s. Tax returns, no income even asked of! All that matters is that the property covers the 1:1 min, dscr ratio, borrower has 20% + reserves and closing costs. Thats it! Approvals are a breeze and so is the process. Happy to help answer any other questions.