I have a question, does FHA look more at whether you've been steadily employed, vs. say you were in one career for 4 years and then changed to a different job (with no gaps in employment) and then apply....or do they have a rule where you have to be at one job/career for a certain amount of time before you can qualify?
I have a question, does FHA look more at whether you've been steadily employed, vs. say you were in one career for 4 years and then changed to a different job (with no gaps in employment) and then apply....or do they have a rule where you have to be at one job/career for a certain amount of time before you can qualify?
Thanks!
As lady said you would need atlest 2 years depending on the difference such as going from a construction worker to doing clerical work. If your doing clerical work at one company but switch to another company and became a supervisor at another company even if it's not similar depts then that situation may not need 2 years
You don't have to be at the same job for 2 years. They are looking to see if you were in the same industry. If you went to school for your new job then that is counted towards your 2 years. What is your situation?
I applied in late Feb 09 for an FHA mortgage being on my new job for a little less than 2 months. I have 22 years in my same industry. It was no problem at all. In fact, getting this mortgage was easier than my last one in January 08.
My mid-score in Feb 09 was 614 (628 right now)
I'm cleared to close this Thursday, 4/9/09. 30 year, 5%.
thanks for all the replies. I am planning on relocating to a different city. I've been a graphic designer for 4 years, however I thought if I wasn't able to find a job doing graphic design, and took, say a administrative assistant position, would I still qualify for a mortgage since it's a different line of work.
