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tomkats13
Dud?


Joined: 08 Jun 2011
Posts: 1

Part-time/2nd job income
PostPosted: Wed Jun 08, 2011 3:48 pm Reply with quoteBack to top

Professor Dom,

If a borrower has a full-time job for 8 years and a 2nd job in the same position working 32 hours per week for 1 year, will FHA allow the income from the 2nd job to qualify? (the borrower has 30 years in the same profession)

Thanks
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cpruitt
Dud?


Joined: 12 Oct 2007
Posts: 21

Re: Part-time/2nd job income
PostPosted: Thu Jun 16, 2011 11:29 pm Reply with quoteBack to top

tomkats13 wrote:
Professor Dom,

If a borrower has a full-time job for 8 years and a 2nd job in the same position working 32 hours per week for 1 year, will FHA allow the income from the 2nd job to qualify? (the borrower has 30 years in the same profession)

Thanks


Although technically FHA allows an underwriter to count the income, you will find them questioning whether, if all the company needed the borrower to work was 32 hours per week up until this point, how stable is this extra part time job going to be?

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Thanks!
Carl Pruitt
FHA Guidelines And Commentary
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