How To Qualify For A Home Loan – With Part Time Income

Mortgage and Lending with Strategic Mortgage NMLS#160440

When applying for a home loan, one of the key components to qualification, is employment. However, you don’t necessarily need full time employment in order to qualify for a home loan.


In this article we will discuss various types of part time employment and how it affects home loan qualification for the purchase of a home or home loan refinance.


Part Time Employment – One Employer


Not everyone works a forty hour per week work schedule. In some lines of work, such as nursing, it’s common practice that the work schedule is in fact less than forty hours per week.


If you have a work schedule that is less than forty hours per week, there are two main components that will help you qualify for a home.


First, it is important to show a two-year work history. You don’t necessarily need two years with the same employer, but two years in the same line of work or a combination of education and then a transition into work over a two-year period is required.


The second factor that will allow you to qualify for a home loan with part time income, is a fairly steady work schedule. Your hours don’t have to be exactly the same on a week to week basis, but you do need to be able to demonstrate a fairly even number of hours worked weekly.


Part Time Employment – Two Employers Or Secondary Employment


If you work multiple part time jobs, then you will need to demonstrate a two year history of working both positions simultaneously, in order to use both incomes. The same is the case if you work one full time job and also a part time job.

You could use the full time employment for income, but in order to use the secondary part time employment for income, you will need to show a two year history of working both jobs simultaneously.

This guideline is put in place to prevent someone from going out and temporarily obtaining part time employment to boost their income for the purposes of home loan qualification.


These are of course just some of the basics and when you are dealing with part time employment or multiple employment positions, it always best to speak with a licensed lender, like Strategic Mortgage, to explore all of your potential home loan options.


For more information on current home loan programs and options for existing and potential home owners, please contact Bill Kamboukos of Strategic Mortgage at (480) 219-3682 or by emailing: or online at 

Strategic Mortgage, LLC - NMLS#158804- Equal Housing Lender – AZBK#0909514

Vasilios Bill Kamboukos Jr – NMLS#160440


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Mortgage / Finance
home purchase
part time income

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Bill Kamboukos

Ask me a question
Spam prevention