RE/MAX of Valencia
There are several good answers below, so I won't repeat them here. But keep in mind that you're addressing two issues with this question:
In the current lending environment, banks want a bulletproof case for both, and two years is the generally accepted minimum time period. Income for the two years will likely be averaged from your tax returns. Employment will need to be verified from all previous employers and you'll want explanation for any gaps.
If you feel you have a strong case, pursue it with a lender. If you know you don't, take that into consideration as well. Let me know if I can assist --- I am happy to help get you on the path to success if you can't qualify today.
I can do it. You are probably not going to be able to get bank financing. However i have several lease options and owner will carries that you might want to consider. Properties that are owner will carry or lease options usually do not make it onto the open market. Contact me if you are interrested.
Silver Creek Realty 661-253-3000
If you had an employer you steadily worked for at least 2 years, and had periods of unemployment for those 2 years, and it's common to the industry such as being in gardening/landscaping, construction or even the automotive industry, or maybe even in your part of the country it's common, then it can be used to qualify (underwriters want reasonable assurance the unemployment income will continue) - most lenders will require you to be back on the job and use an average of unemployment & employment income.
The amount that will qualify would likely be your employment and unemployment income over a 24 month period.