If you have recently been out of work, and now you are working again – here’s what you need to know to buy a house…
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 us a call and we’ll try to help!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett