Tuesday, June 14, 2011

What You Need To Know About Part Time Income With FHA...

Good Morning!


I've talked about this before, but I think it's worth revisiting...

If you are trying to purchase a house with an FHA loan - and you are using part time job income, be aware of this...

FHA will want to see that you have a two year stream of this part time income before they will give you credit for it.

...So, in other words if a loan officer tells you that you need more income - you can't just run out and get a part time job to satisfy this need. ...You wouldn't fulfill the 2 year work history on it.

You do have other options though... If you are in this situation - please give me a call or drop me an email. I would love to try to help you.





I hope you have a great day! Thanks for reading!



Brett

No comments:

Post a Comment