Part-time/2nd job income

Dud? Joined: 08 Jun 2011 Posts: 1

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

Dud? Joined: 12 Oct 2007 Posts: 21

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?