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Updated over 7 years ago on . Most recent reply
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FHA loans and W2 income
Hello all,
I have been looking at multi-families recently with hopes of house hacking via an FHA loan but I have been looking through the forums and learned that FHA requires 2 years of W2 income. I have consistently had W2 income, however, it has NOT been at one full time job for about two years now. I have been working as a part-time accountant for two separate CPA firms. One I am W2 the other I am 1099. I also work part-time as a carpet cleaner on the weekends which is also W2. Between the three jobs I am working 45-55 hour weeks steady. Would my situation disqualify me for an FHA loan? Any insight would be appreciated.
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The mortgage lenders want to see last two years of tax returns,last two monthly bank statements,and last two paycheck stubs.Gather that all up and see a local mortgage lender in person about all your financing options and what you really need to qualify for a loan.