I own a business under my girlfriend’s name. Can I buy an $800,000 property?

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“In addition to my two existing businesses, I am working on creating a third, but they are under my girlfriend’s name for privacy reasons.”

First off, I’m a complete beginner, I know next to nothing, and I’m expecting to be laughed at. Here’s my question: I’m currently living with my girlfriend. I’ve been looking for houses, and I’ve found a very nice quadplex that’s just been renovated.

I would like to take advantage of us both using a Federal Housing Administration loan before we get married. I know that FHAs are applicable for up to a four-unit house, and I was wondering if it’s possible for me to get a loan to purchase this unit with no income. ‘The Big Move’ is a MarketWatch column looking at the ins and outs of real estate, from navigating the search for a new home to applying for a mortgage.

Even though you have a rough estimate of projected income from your rental properties, you are missing some other factors that come with homeownership — from the down payment, closing costs and insurance to maintenance and repairs that will be ongoing. Mortgage insurance may be required on some loans.

There are some types of loans that allow you to purchase homes with no income and no employment verification, but bear in mind that these are not qualified mortgages . Non QM loans aren’t insured or guaranteed by FHA, Fannie Mae or Freddie Mac.

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