Getting a loan approved

[Account Closed]

I am aware that to get a loan approved the lender generally likes to see 2 years of employment with the same employer, is this true?

I graduate nursing school soon and will get a job as an RN. I have worked as a CNA for about a year and a half. Before that, I did not have a job due to playing basketball in college.

I have a few thousand in cash reserves, a good credit score, and about $10,000 in student loan debt (no other debt). I currently live with my parents but am looking to house hack a duplex using a FHA loan.

I would love to hear feedback from anyone with experience or in a similar situation!

[Chris Mason]

The two year thing is for forms of self employment.

Being a W2 nurse on a base salary at a hospital is not a form of self employment, so you're good there. More specifically, your time in nursing school will be count towards checking the infamous "two year" box. Here in the Bay Area it's called the "tech wizard special" -- computer science degree, 7 months on the job as a six figure software engineer, 3.5% down (they pay very little rent, sharing a 2 br apt with 5 other young/single techies, allowing for very rapid savings), and boom here's your $700k mortgage. 

The overtime, night differential, missed meal bonus, etc etc, is however treated as self employment. For that portion of your income, two years of receipt will be needed.