Seeking FHA Loan Broker
Hello,
I have recently started searching for a single family home purchase (owner occupied) in the Greater Sacramento area (Roseville/Rocklin). I have a BK (Ch. 7) that is nearly three years old from discharge (Sept. 2014) with an excellent credit rebuild since having multiple credit lines (revolving) and a few auto loans (installments) paid off. My debt to revolving credit limit is less than 3% and my average FICO (between the 3 agencies) is at 690! I am looking at an FHA and not conventional because my BK is well over two years, but NOT over 4 years. I am looking to spend between $400,000-500,000 and I have 3.5+% ($21,000) that has been seasoned for more than 3 months. I am currently employed (approx. 1 year) and make a salary of $120,000 annually Which began on Jan. 2017. As for last year (2016), I only have approx. $6,000 of W2 Wages (same job) and $12,000 of rental income on a property I owned and also sold in 2016 (owner occupied two out of five). For 2015, I have NO W2 income and only rental income of approx. 12,000. My occupation for that year was classified as "Student" which I was full time for the last 6 months of 2015.
I have only tried one mortgage broker who is not able to get this underwritten because I don't have two years of solid employment.
Any reccomendations??