Texas FHA Income Problems

[lauramg80]

I would like a couple of opinions please. I have asked this question of dozens of mortgage people and I get a ton of different answers and different reasons for those answers. I was denied an FHA loan due to my income. I have 4 sources:

Full-time W-2 job since 9/6/2016

Part-time W-2 job since 4/6/2015 (this was my fulltime job between 4/6/2016 and the current full-time job)

1099 income since 4/29/2014

Child support income.

The reason for denial was due to the current full time job. Not enough stability they said, because I had a gap in W-2 income back between June-October 2014 (had a bad car accident). I had another full time job between 10/2014-4/2015. All of my jobs are in the same line of work. I just moved from one state to another in 2014.

I hate to keep putting in applications only to be denied for this reason. No one really wants to commit to any answer to this question without full documentation and the whole loan app and verification of income. 

Does anyone have an opinion on whether I will be allowed to use of of this? Now or ever.

Thanks!

[Anonymous]

https://www.fha.com/fha_article?id=585

I know that some things are at a lenders discretion too.  There may be underlying factors in addition to the 'unstable' income or job.

[DallasLoanGuy]

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@lauramg80 wrote:

I would like a couple of opinions please. I have asked this question of dozens of mortgage people and I get a ton of different answers and different reasons for those answers. I was denied an FHA loan due to my income. I have 4 sources:

Full-time W-2 job since 9/6/2016 same line of work as other job?

Part-time W-2 job since 4/6/2015 (this was my fulltime job between 4/6/2016 and the current full-time job) not following you here

1099 income since 4/29/2014 good

Child support income. allowable if it is likely to continue and it is 1. court ordered and 2. you can prove you actually get it

The reason for denial was due to the current full time job. Not enough stability they said, because I had a gap in W-2 income back between June-October 2014 (had a bad car accident). I had another full time job between 10/2014-4/2015. All of my jobs are in the same line of work. I just moved from one state to another in 2014.

I hate to keep putting in applications only to be denied for this reason. No one really wants to commit to any answer to this question without full documentation and the whole loan app and verification of income. 

Does anyone have an opinion on whether I will be allowed to use of of this? Now or ever.

Thanks!

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a big gotchya in lending is part time work in addition to full time work. you need a two yr history of working both jobs to prove that you can handle a full 40 + that part time work.

less concerned with the job gap.