ISO: Loan Person for Travel Nurse in NC (hit a snag)
Hit the first big snag.
Trying to get an FHA loan for fourplex. Underwriter will not check off on it income is travel nurse income. 13 week contracts, same company for last year and never any trouble getting continued employment. W2 income from placement company.
Any tips or anyone in North Carolina that has experience in this?
Thank you
@Account Closed, I just closed a VA loan on y current home (very similar underwriting) and I am (or was at the time) a travel nurse. I had only been with this agency for 6 months. I had been a nurse for 7 years and they did want to see my contract.
I would recommend getting a new loan agent. They should be able to take your agency pay as long as you have been in the same profession for the last 2 years. They would probably not like it if you were in a different profession though.
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Originally posted by @Greg Downey:
@Account Closed, I just closed a VA loan on y current home (very similar underwriting) and I am (or was at the time) a travel nurse. I had only been with this agency for 6 months. I had been a nurse for 7 years and they did want to see my contract.
I would recommend getting a new loan agent. They should be able to take your agency pay as long as you have been in the same profession for the last 2 years. They would probably not like it if you were in a different profession though.
Thats hopeful, thanks. Yes, same profession for 5 years. Travel nurse for 1 year. Current company for 10 months. Last one was terrible (but they had a job in Maui).
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Originally posted by @Account Closed:
Hit the first big snag.
Trying to get an FHA loan for fourplex. Underwriter will not check off on it income is travel nurse income. 13 week contracts, same company for last year and never any trouble getting continued employment. W2 income from placement company.
Any tips or anyone in North Carolina that has experience in this?
Thank you
A lot is going to depend on how her income was set up in Maui. Was she a permanent employee or did she do contracts there. Her income will be able to be used, but the question is do we go off of the current 13 week situation or blend the 2 year average.
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@Account Closed is your current employer still have you on a contract? Meaning, will your employment end at a set date? Or is it an open contract at this point? This might make some difference in the loan type. Thanks!
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Originally posted by @Andrew Postell:
@Account Closed is your current employer still have you on a contract? Meaning, will your employment end at a set date? Or is it an open contract at this point? This might make some difference in the loan type. Thanks!
They have set end dates, unless you agree to extend if they need you. But, getting a job is incredibly easy. High demand. But we have found someone through this thread to help!