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Updated almost 3 years ago on . Most recent reply

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FHA Loan Requirements- Annual Income

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Hello new to the forum. If this has been answered previously a link to an article or thread would be nice. 

I'm self-employed and just recently obtained my LLC (s-corp). I was thinking that I would wait until 2 years in business to purchase my first property but something woke me up and said why not now. I'm planning on getting a full-time night job and working for 6 months to qualify for an FHA loan on a multi-family unit. Being that I can use rental income as qualified income I'm thinking a 15-18/hr job would secure a 450k loan. I'm wanting to know if there are some resources that can confirm this before I spend six months slaving away. * In particular 6 months working at a job, and the amount of loan I can get approved for thank you

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