do i qualify for an FHA loan?
I have 727 credit and can meet the 3.5% minimum, but I have been working for only 5 months. I will be making $60,000 annually but was working a job not career position previously and made only $18,000 per year. So my last 2 W2s reflect that salary. can I go FHA if I bring in paystubs from the past 5 months? by kreeola784623475 from Johnson City, Tennessee. Jun 20th 2014
Shaun Weeks (sweeks)
#898 ranked lender in California - 106 contributions
Good Morning,With this increase in income did go to school to learn a new trade or recieve a degree that now enables you to earn more money?There are some many variables with this question so if you'd like to send me an email or phone call please feel free to and I will help you out.
Edward Fallon (edfallon)
#89 ranked lender in Pennsylvania - 143 contributions
On an FHA with everything else being good, that should work. We would want to verify that you are receiving a steady salary, and the income will not vary (in other words it does not consist of bonuses, overtime, commissions, etc.).
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
As long as that new job is hourly or salary, and as long as you had less than a 6-month gap between jobs, or you were in school, you should be just fine for an FHA loan. www.JoeMetzler.com/fhaloans.htm
Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 233 contributions
I am located in M'Boro TN give my office a call to discuss your options.615-867-3060.
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