Also, I am guessing that due to the state of the house, it would not qualify for a conventional loan?

Also there is no restriction on acquiring conventional loan on primary residence even if you have maxed out on conventional loan for rentals.

Or put in your interest rate here, and your loan balance there.The art is where I think most people struggle, and I don't think this can really be done without real world knowledge.  

One solution could be a Debt Service Coverage Ratio (DSCR) loan.

I had a call with a loan officer yesterday and I am very intrigued, but haven't heard much in recent discussions for this product or found anything in the search bar for this bank. 

You may also want to ask when a member must be a guarantor of the loan, if a hard or soft credit inquiry is done, and if the loan reports to personal credit.cheers! 

10% down 2nd home loan and savings from the proceeds of already owned STR's.

you can use a DSCR loan if your DTI is too high for conventional. 

Friendly reminder you can do a Conventional loan 95% LTV to purchase a home for them.

However, there's a loss on the 2023 Tax Returns, and Net Income is $45,000 in 2022 (Client has lots of writeoffs) What loans could I use that only consider:- Bank Statements - 1099s - Credit Score Please contact me with options.