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Updated over 3 years ago, 05/25/2021

User Stats

3
Posts
1
Votes
Christopher Craft
  • Rental Property Investor
  • Eau Claire, WI
1
Votes |
3
Posts

Struggles with lending

Christopher Craft
  • Rental Property Investor
  • Eau Claire, WI
Posted

Hello everyone,

This is my first post in the community and hope that somebody could give me some suggestions.

Currently in the market to purchase my first duplex. I have a few duplexes picked out for possible purchase, solid credit score, and the down payment ready in hand eager to make a deal. My issue is when I have spoken to a few lenders they say my current job history is too short. I am a nurse and decided back in October of 2020 to begin travel nursing (a slight career shift from staff nursing). I make a six figure income with travel nursing currently. The lenders I have spoke with look at my income as a 1099 self employee vs my actual W2 because I accept multiple 13 week contracts throughout the year. They say I need to have 1 to 2 years of work history in order to really have a chance to be approved. I have tried to explain to them exactly how I am paid and that my job is very steady and that there is no shortage of contracts. Is there anything I can do or do I just continue to reach out to more and more lenders? I have been too worried to run my credit if I am just going to be denied. Should I just try? 

I greatly appreciate any help, very eager to start building my portfolio!

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