Mortgage lenders for truckers….

Strange.
I've been a truck driver for over 47 years and have paid off mortgages on 2 homes and was that was never an issue.
Tax returns and W2 should suffice for anyone.
Maybe being more vague on job title will do the trick.

 

Everybody wants paystubs, blood sample, dna sample and your first born child these days. After the 2003-2008 run up and subsequent crash. Lending rules have become almost unbearable for mortgages.

 

Trust me. DO NOT mention the Air BnB plan to a lender. They will classify it as an income property. Then you will have a whole other problem on your hands!!

 

Yes don't mention income property, youll be put through a whole 'nother ringer....

 

Got it ... I interpreted that you'll keep the RV place and use the new place as an investment ... and like Dockhumper said as far as the lender will know the new place is your home and only your home. After you close, they won't care.

 

Forgot.
No unusual cash transactions in your checking..otherwise You'll have to show those accounts too.

 

I just got thru with a ReFi on an income property. Effing nightmare. $50,000 down, financed $85,000 on a property that appraised at $270,000.00. 100K in the bank, 817 FICO Score. $20,000 in gross rents annually. Truck Driving income of $65,000.00 per year. Zero debt( except the property if course). PITI of $900.00 per month. Holy mother of God!! They acted like I was going to default in 3 months. The financial system in this Country is broken. I'll bet the 23 year old newlyweds that work at Denny's with a baby on the way had an easier time getting a loan than I did!! Lol

 

I forgot to add......I bought the property 2 years ago with 35K down. I have put about 20K in improvements in 2 years. So my total CASH INVESTMENT in the property is over 100K! IN THE LAST 2 YEARS!!! They still ran me thru the wringer! I didn't fit the "Template" i suppose. After the loan funded, I called the "Loan Officer" and told him to go F### himself and his dog. Really wasn't entirely his fault...... But.... it made me feel better!! Lol

 

I am totally there with you in the same boat. I am an owner operator of 1 flatbed. The bank hates the self employed. I have now taken my truck off the road to rebuild the motor and have just taken an hourly paid job just so I can get a home financed. I got a tip the other day from an accountant and that is to become a member of Farm Bureau. They work with folks like us from what I heard. Have no clue.

I think in my spare time I'm going to look into the lending laws