Category Archives: job gaps

Kentucky FHA Loan Requirements for 2019


Originally posted on Kentucky FHA Mortgage Loans Guidelines :
Kentucky FHA Loan Requirements The requirements for Kentucky FHA loans are set by HUD. Borrowers must have a steady employment history of the last two years within the same industry or line of work. Recent college graduates can use their transcripts to supplant the 2 year work…

Acceptable Income and Job History for a Mortgage Loan Approval in Kentucky


Mortgage Underwriters must follow both DU and agency guidelines when it comes to documenting and calculating qualifying income for a loan transaction. Income guidelines may vary slightly depending on the loan program and the borrower’s employment profile. Below are some general tips for W2 income.      Documentation that may be required Paystub with year […]
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Part-time earnings or second jobs may not count when seeking a mortgage loan approval in Kentucky


Part-time earnings may not count when seeking a mortgage.     The two-year rule for counting part-time income has been an industry standard for years and was recently incorporated into regulations adopted by the Consumer Financial Protection Bureau. The rationale is straightforward: If part-time income hasn’t been established for an extended period of time, it may […]
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What does it take to get a mortgage today? – Half Moon Bay Review : Community


What does it take to get a mortgage today? – Half Moon Bay Review : Community. Your debt to income ratio cannot exceed 45 percent. The higher your credit score, the lower the mortgage rate. A score of 740 or above will give the best rate; a 690 will work, but you will pay between […]
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