What You Have To Know About Part Time Income…

By
Mortgage and Lending with Berkshire Lending, LLC

small brett pic What You Have To Know About Part Time Income...

I ran into an issue with this topic on a loan from last week, and wanted to touch on it with you…

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.

That’s it for today!    …thanks for reading!

Brett

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Comments (1)

Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hello Brett...I was in the neighborhood and thought I would stop in...best

Nov 16, 2014 10:31 PM