FHA Loans for Recent Grads???

Question

Hi All!

Is it possible to qualify for a FHA loan with less than 2 years of employment? I read somewhere that it is possible if you are a recent college graduate. Does anyone know if this is true?

I live in the Los Angeles area and love the idea of using an FHA loan to buy a house to house hack! If anyone has experience with this specifically in the Inglewood area I am all ears!

Paulina Lagudi · Answer

@Alejandro Garcia I'm looking at Burbank mostly. Glendale is apparently going to be rent controlled soon, which is where I live and isn't good for landlords obviously. Burbank is great for renting.

Chris Mason · Answer

Yup, it's true. We do a fair amount of these here in California. Basically your time in college is credited towards your two year 'employment' history. It's simply necessary to tie your major to your current career (may or may not need to be clever here) and package it well for underwriting.

Alejandro Garcia · Answer

@Chris Mason

Is there a site you recommend where I can get more information on qualifications for the FHA loan? Or possibly a contact in the LA area I can speak with?

Paulina Lagudi · Answer

This is a great question and good to know. Looking to possibly do an FHA loan or a conventional loan in the next 10-12 months when my husband and I invest in a duplex to house hack. We are both in the film industry therefore work isn't like typical consistent employment, so we also have had jobs to fill in the gaps for cash flow. I'm wondering if this will negatively affect our chances of getting approved for a loan.