How To Get A Loan If You’ve Recently Been Out Of Work…

By
Mortgage and Lending with Berkshire Lending, LLC

small brett pic How To Get A Loan If Youve Recently Been Out Of Work...

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 me a call and I’ll try to help!

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

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Comments (1)

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Brett.

Thanks for sharing this great information on what needs to be done for those who have recently been out of work and are wanting to buy a home.

Oct 27, 2014 12:44 AM