Personal home financing post acquisition

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October 03, 2021

by a searcher from George Mason University in Jacksonville, FL, USA

Does anybody have any experience buying a personal hole post small business acquisition? I closed on a business on July 9th of this year and want to buy a house in Jacksonville, but am not sure about obtaining financing since I’m now self employed. I don’t really want to rent for 2 full years if I can figure out how to finance a home.

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Reply by an intermediary
from Wake Forest University in Winston-Salem, NC, USA
Also talk to the lender that did your business acquisition loan. We were able to get one done like this as the bank was able to take the much bigger picture into account and put the loan in their portfolio. Which brings up the second option -- look for a mortgage lender that portfolios their loans as opposed to selling them on the secondary market (although their aren't many).
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Reply by a searcher
from Dartmouth College in Austin, TX, USA
Great question! I'm following this post to see if anyone else has experience here. My advice would be to talk to a couple good independent mortgage brokers about options. There may be an opportunity to get creative with a non-conforming loan and then refinance after you have two years of employment history with your company.
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