Posted on: 11th Sep, 2010 07:38 am
My husband was out of work for a total of 6 months in the past 2 years and just recently got a job. And I do not work. Would we qualify for an FHA loan??
The lender will check the employment history for the last 2 years of your husband before giving him a FHA loan. If the lender is not satisfied with the employment history of your husband, he won't originate the mortgage.
It will depend on the reason of unemployment. They will also look at his current occupation and previous occupation. They might even look further. It will all depend on which lender you end up with. Some are conservative. Some are aggressive. If he has good credit and $ to put down; those are considered compensating factors that will help you get the loan. Do your research.
