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Updated almost 10 years ago on . Most recent reply

Nghi Le's profile image
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Nghi Le
  • Investor / Lender
  • from Seattle, WA
  • Member since Jun 28, 2014
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Nghi Le's profile image
Nghi Le's profile image
Nghi Le
  • Investor / Lender
  • from Seattle, WA
  • Member since Jun 28, 2014
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Nghi Le
  • Investor / Lender
  • Seattle, WA
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Creative Real Estate Financing

How to Finance a House Without Regular W-2 Income

Nghi Le
  • Investor / Lender
  • Seattle, WA
Posted

My friend and real estate agent is trying to buy a personal residence, but because he's a realtor, he doesn't have a regular W-2 Income.  What kind of options does he have?  Are there any types of banks (or loan programs) that will use his 1099 income and finance his home at a good rate?

I know portfolio lenders loan a little bit differently than conventional banks.  Are there any in the greater Seattle area that can do this?

Thank you in advance!

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Ryan Dossey
  • Real Estate Broker
  • from Indianapolis, IN
  • Member since Apr 29, 2014
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Ryan Dossey
  • Real Estate Broker
  • from Indianapolis, IN
  • Member since Apr 29, 2014
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Ryan Dossey
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  • Indianapolis, IN
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Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
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If he has 2 years of tax returns (some banks want 3) he should be able to get conventional financing. 

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