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Can I Qualify for an FHA Home Loan?

MrCashCartons asked:

Alright, I have six years of steady employment and have been preparing to buy a house and fixing my credit. I am not to the point that my credit will allow me to purchase a home at a good rate, unfortunately my position was eliminated at my job. I am about to accept a salary job offer at a friends landscaping company and am wondering if i would qualify for be able to qualify for a FHA loan. I have been unemployed for 2 months.
Asked on: 2009-12-28 04:25:56

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3 Comments

  1. Rose2B says:

    I wasn’t going to answer this question, but when I saw that the only other 2 answers so far looked like SPAM=/ I figured I should=).

    My fiancee was laid off from a job in March & started working in late June or early July. Our loan officer only required 30 days pay stubs & was aware of the fact that my fiancee had been laid off & just began a new job. However my fiancee has pretty darn good credit. I would try to go for it. From what you type it’s questionable if your credit will qualify, since you are starting a new job you should qualify for FHA loan soon (assuming your credit is good enough). Like I said, our lender would approve us after my fiancee (the only one of us working) was only working for 30 days, and he was unemployed for alot longer than you:).

  2. Sophia says:

    Home loans for people with bad credit offer a solution for people who may find it difficult to get loans on account of poor credit ratings. There are many people who cherish a desire of owning their dream house – and these dreams can now be realized using these mortgage schemes that are targeted at people with poor credit ratings. Today, you can find many lenders and financial institutions that are willing to give these kind of loans.

    There are many options for these kinds of loans which are available today that come with a fixed rate of interest for making monthly payments. These schemes help in managing your finances in a better manner as you can plan in advance. Your loan can be for a term of 30 years or for 10-15 years. If you prefer a more flexible option, then you can even opt for home loans which provide variable rate of interest that works out to be more affordable with lower interest rates.

  3. Alterfemego says:

    Only a loan officer can tell you because they take into account your whole financial picture. We’d just be guessing here.

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