Home Buying in 06514>Question Details

chris.raines, Home Buyer in Medford, MA

Will my mortgage lender deny me because Im 2 months shy of being 2 years at one of my jobs?

Asked by chris.raines, Medford, MA Sun Jun 9, 2013

Im susposed to be closing on a hud foreclosure july 15 with a fha loan...Im waiting for approval on my loan application, i was preaproved and income, credit, debt ratio, savings is good. The one thing is that one of my jobs i have not been there 2 years.Im 2 months shy of being 2 years..my mortgage counseler said it must be 2 years but i might get away with it

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as long as your lender has a processer that does a WRITTEN Verification of Employment or VOE and the employer for your second job states your continued employment is good you will be fine. You won't be able to use any over time or bonus income from the 2nd job until you have 2 full years but base salary after 22 months is fine as long as your stability of continued employment at that job is good.
0 votes Thank Flag Link Sun Jun 9, 2013
Thanx for the reply, but is this a standard rule all lenders follow or might a lender be real strict about 2 years requried?
Flag Sun Jun 9, 2013
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