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Updated over 10 years ago, 07/05/2014
Am I qualified for an FHA loan? Changing occupations.....
Hello,
I been at my current job now for over 2 years. I'm about to change occupations for more money and the opportunity to advance myself. I was wondering if I change occupations, will I still be able to qualify for an FHA loan? I have decent credit with all three scores ranging from 662 to 700. I don't have any student loans, car loans or mortgages. I'm looking forward on getting a Triplex or a Quad (3 or 4 Unit). How long do I have to work at my new job before I can apply for an FHA loan considering I been at my previous job for over 2 years? Also, how much does a person need to have in reserves for a multifamily because I heard you need to have reserves for a 3 to 4 unit building. Any information would be greatly appreciated!
Thank you so much!