Residential Mortgage options for new business owners?
Are there any?
My wife and I acquired a business about 8 months ago with SBA financing. And then we moved to be where the business is. Because we sold our primary residence, we can put down a fair amount of cash towards the purchase of the next home. And my wife has kept her job so that we have a W2 income to help get a mortgage.
But it sure would be nice if there was a lender willing to lend against our W2 income + business cash flow. So far, I understand that the conventional lenders all want 2+ years business income history.