Financing for an Independent Contractor

[Ryan Sanford]

Greetings all. I have a quick question about financing for my very first property: I'm wondering how hard it will be to find a local bank to approve me for a loan to purchase my first property. I made $36,000 last summer working as a door to door salesman, and the income is still flowing in on a bi-weekly basis. I have a relatively short credit history, with a score around 720, and I have an emergency fund of $8,000. No student debt or car payments.

If you are a hard money lender in the DFW area, I would love to network as well! I have a goal to purchase my first property before the end of February, so I fully intend to make it a reality. Any suggestions would be greatly appreciated.

Cheers!

[Jonathan Styer]

The best way to find out is to start calling lenders and just see what they say. To me it looks like you will be ok to lend to but my advise would be to jump in and start calling/setting up appointments. It will cost you nothing but your time.