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Updated about 7 years ago,

Account Closed
  • Rental Property Investor
  • Austin, TX
98
Votes |
118
Posts

High Credit + High Savings - No W2 = Suggestions?

Account Closed
  • Rental Property Investor
  • Austin, TX
Posted

Hi all - I'm wondering if anyone has banks/lender recommendations in DFW who can help here: 

I'm starting the search for my first property (thinking North Arlington area). My goal is to find a 3 bedroom SFR for less than 150k, live in one room, and rent/airbnb the other 2.

The issue however is that I'm newly self employed, so I don't have a W2 or income history. On the flip side, I have a good credit score (750+) and high cash savings. Since I'd prefer to use the cash for reserves + my business, I was hoping to find a long-term financing option for the purchase. Does anyone know a bank/lender recommendation who can help in this type of scenario? I'd like to avoid HML and short-term financing in general, and would be willing to put a 10-20% deposit if needed.

Thanks!

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