Kentucky FHA Mortgage Work History and Income Requirements.
- No matter what you must provide a 2 year employment history. Conventional or Kentucky FHA Mortgage Loan. Conventional does not always need to be verified with a written work verification form
- if you do not have a complete 2 year history you must explain any large gaps. Typically I have seen this to be greater than 30 days.
- you must have a 2 year history prior to the gap as well. (two underwriters from two different lenders have recently told me the same thing)
- also check your AUS-Automated Underwriting Findings because that can help when speaking with your potential borrower.
- Exception to the 2 year history is college or HS graduation
- need official college transcripts or they can be unofficial if you get them with the web URL just like bank activity.
- good idea to snag their diploma as well.
- you probably don’t even need to use this exception if the person was a student…
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