Posted on: 08th Oct, 2010 04:55 pm
Hi,
I've worked at the same job for 7 years, and my husband just started a new job where he is basically a contract employee or self employed. We've decided that we want to stay in our city because my job has great benefits. My husband has not been on his job more than a year. Can we get an FHA loan? We would want to get a loan that we can afford on one salary.
How does that work?
I've worked at the same job for 7 years, and my husband just started a new job where he is basically a contract employee or self employed. We've decided that we want to stay in our city because my job has great benefits. My husband has not been on his job more than a year. Can we get an FHA loan? We would want to get a loan that we can afford on one salary.
How does that work?
Hi violet,
As your husband does not have a stable job, he may not be able to qualify for an FHA loan. However, as you've a stable financial situation, you can apply for the loan and get approved for it provided you have the required credit score. In order to get an FHA loan, you should not have a credit score less than 580.
As your husband does not have a stable job, he may not be able to qualify for an FHA loan. However, as you've a stable financial situation, you can apply for the loan and get approved for it provided you have the required credit score. In order to get an FHA loan, you should not have a credit score less than 580.