2 years not employed and applying for a loan
I am a home maker and I've been without employment for about two years now. I plan to use a DSCR loan to invest in a multi family unit. I have 640 credit score. What type of loan should I apply for? How can I prove my income? I have enough for 10% down payment and closing costs. by groupie257 from Aliso Viejo, California. Dec 12th 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
A DSCR Non-QM loan does not require a job or proof of income. It works based on the rental property having positive cash flow. For example, assume you collect $2000 in rent, as long as your new mortgage payment is $1999 or less, congratulations. Of course we still look at credit scores, and you have to document your down payment, etc. I love these loans for investors, and do a lot of them. View my webpage about this program at https://joemetzler.com/loans-for-investors/ I lend in MN WI IA SD ND | Cambria mortgage, NMSL 274132
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