first year self employed eligible for FHA loan?

Hi Guest!

Welcome to forums!

Lenders generally want to check out 2 years of employment history before granting a loan. You will have to speak to the lenders of your area and get to know whether or not you qualify for a loan. You may even seek a no obligation free mortgage consultation from the lenders of this community. This will give you an idea whether or not you qualify for a loan.

Feel free to ask if you've further queries.

Sussane

Also does it matter if I took unemployment benefits for some of the year?

it absolutely matters that you collected unemployment. your work history is going to work against you. virtually every loan you might seek is going to require a 2-year history of self employment, and that you collected unemployment between your W2 job and your new self employment hurts you.

For FHA you need to show atleast 2 years of contineous employment history

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