FHA Loan After Unemployed

[Elando Serrano]

Looking to get an FHA loan sometime next year to buy a multifamily in the DC area. A problem is that this entire year I have not had a job, but I have been collecting unemployment. I have W2s from 2018, and 2019, and I was wondering how badly would it affect my mortgage application being out of work for an entire year?

I understand that lenders look at rental income and and take account about 75% of the rent, and because I’m looking to get a 3-4 unit does this make my case any better though I’ve had this huge gap in employment?