February 10, 2012
We fielded a reader question about FHA loans and employment history recently. The reader asked;
“Hi. Is it possible to file for a loan with one year of employment with great credit score?”
This is a question that is more complex than it might seem on the surface. Does the reader mean one year of employment with a single employer? Or does this question refer to one year of total employment experience?
According to the FHA loan rules, “To be eligible for a mortgage, FHA does not require a minimum length of time that a borrower must have held a position of employment. However, the lender must verify the borrower
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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