I wanted to go over the FHA guidelines with you on a borrower returning to work in case you or someone you know is in this situation.
There are just a few main guidelines that FHA likes to see for the borrower in this situation to be eligible for financing…
1) Current employment of at least six months.
2) Documentation of two years of employment prior to the absence. Acceptable documentation includes w-2’s, paystubs, or a written verification of employment.
3) Acceptable scenarios include an individual who took several years off to raise children, but has now returned to work.
If you know someone in this situation and they want to purchase a home, have them give me a call and I’ll try to help!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
One of the most important things you will have to do when you apply for…
I wanted to let you know we have a 2% to 5% downpayment and closing…
If you want to acquire rental properties, but you are having issues proving your income…
Do you need cash out of your home, but you don’t want to refinance the…
In the mortgage world there are rules we have to follow. Such as, rules about…
Do you have investment property, and would like to pull cash out of your property?…
