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Joel Cruz
  • New York City, NY
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FHA loan advice - Did I just loose an opportunity?

Joel Cruz
  • New York City, NY
Posted
Hello BP Family, I am new to whole real estate investing arena, and just recently decided I wanted to take this seriously. So I decided that the best way for me to start would be to house hack my way into owning my first property. I decided this because I heard about the FHA loans that are offered with the low money down option. when I read/learned about the criteria for this I was already in a few days into my 2 weeks notice I put at my job because I received a better opportunity elsewhere. However, I read that one of the requirements is to have at least 2-3 years working in the same place, which was a criteria that I met at my soon to be old place of employment. Does switching for a better job automatically make me ineligible? do I have to do 2-3 years at this new place to qualify? This doesn't really make any sense to me, so can some one clarify this? is this true. Did I jus blow an opportunity because I read something about a week too late?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

No, as long as your new job is in a similar field to your old one.

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