- Find a Real Estate Professional
- Alaska Realtors®
- Alaska Mortgage Lenders
- Alaska Home Improvement Pros
- Alaska Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- More
Answers (1)
- Stephen Katz, "KatzMortgageTeam"
- Contributions:46
There is really no minimum length of time that a borrower must have held a job for them to be qualified for a FHA loan. It is however imperative that you do have a source of income to present to the lender if you are planning to obtain a loan this may include disability, retirement, social security, alimony or child support and self employed income.
Your application will be labelled as "expected to continue" which means that you can pay the mortgage, surely, for the first three years.
In the case of your second question, the minimum length of time is the most recent two years you have been with your employer. The history will include your overall income, taxable and non-taxable income, Overtime or bomus incomes, tax returns and retirement funds set aside
by the employer. Make sure that you do not have any negative reports on your employment records as this may become grounds for a denial of your loan.
Your application will be labelled as "expected to continue" which means that you can pay the mortgage, surely, for the first three years.
In the case of your second question, the minimum length of time is the most recent two years you have been with your employer. The history will include your overall income, taxable and non-taxable income, Overtime or bomus incomes, tax returns and retirement funds set aside
by the employer. Make sure that you do not have any negative reports on your employment records as this may become grounds for a denial of your loan.
how many gaps in employment if any are you allowed to have with an fha loan
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.