How flexible are the employment requirements for FHA loans?

You should be fine.. Same job is different than same line of work, and the lender requires you to be in the same line of work.. But even this is widely interpreted, so it's a bit flexible... however a important note.. if you went from a wage earner to a commissioned employee or commission/salary employee, then in order for the commissions to be counted, you would need a 2 year history of receiving commissions.... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

hi there: you are fine not really a requirement to be with same employer for 2 yrs..same field is a plus....I'm with a bank and definitely offer flexible underwriting guidelines in structuring the loan from start to end...We offer closing cost asst if you need it....Also offer a 5k in house program depending on level of income bracket you can use towards the loan transaction. Lending in all 50 states (NMLS 754874)...Mike 703 505 5300

You should be fine if it is the same or very similar type of work. If you have a substantial amount of your new income in overtime, bonus, or commission, then they will most likely qualify your income based on your base or hourly pay. I would advise you to give your HR or payroll person a heads up that you are applying for a loan and your lender may be calling to request more info - that tends to speed things up if you let them know ahead of time.

ok . WHAT you are probably referring to , is the2 yr mark for employment , which is for, you are working for a employer, then you go leave that job and start up your own company, yes, then you have to be self employed for the 2 yrs , before you can get a loan, so for your case, if you are going from one job to another, not a problem, and the only hurdle would be if your income drastically dropped, then you would need a letter explaining this.. and yes, I can lend in your state.. linda yourloanpartneforlife@live.com

As William says, there is a lot of flexibility with FHA. The preferred is two+ years with the same employer, but as long as you have a history of two years, even with a break in service between employers you could be OK. Your Loan Officer should be able to guide you, but it sounds like you will be OK. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950