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Updated over 2 years ago on . Most recent reply

Is it impossible to get a Heloc/refi with no W-2
I will be leaving my W2 at the beginning of next year and be jumping into real estate full time and am wondering is it impossible to get a Heloc/Refi if i have no W2? Should i try to do this before quitting? What options would i have with no/little income to start with banks?
Thanks
Most Popular Reply
Establish the HELOC before you quit your job. Self-employed and unemployed are not categories that make it as easy as having verifiable employment now. They don't have to know your future plans -- in a don't ask/don't tell situation. Never lie to them, but you don't have to advertise the theoretical nature of your employment status next year.