Forgotten Your Password?

Need to Register?

Question Icon

Fha denied cause of 6 mo work history

My daughter n law was supposed to close on a house next week. Everything was great til the FHA came back 2 days ago and said they cant do it cuz she only has worked 6 months. She graduated high school last year. They said everything was good except the work history. Anything we can do?? by pfsmom1893 from Sandy Lake, Pennsylvania. Apr 21st 2015 Reply


Steven Karp (stevek81)
#29 ranked lender in Massachusetts - 120 contributions

Hi Mom, sorry, but without a certification type job such as a CNA, or a licensed position such as an Electrician or other trade, you need a 2 year history, in order to qualify for a mortgage.

Apr 21st 2015
1
0
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

if she started work right after graduating another lender might be able to help, or she could possibly use a co-signer to qualify. If the loan was denied by the lender and the info registered with FHA it will likely be really difficult for her to qualify until she has a longer work history or a co-signer.

Apr 21st 2015
1
0
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

PS. Another option might be a conventional loan with 3% downpayment. It would be worth looking into.

Apr 21st 2015
1
0
Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,250 contributions

can you co sign fha rules need 1 yr work history linda

Apr 21st 2015
1
0

I cannot co sign because of my debt to ratio. I have a new car and just bought a house 2 years ago. The FHA underwriter is saying no to a co signer for some reason. Her credit score is in the 700's and they said the only hold up is the work history. She already has money invested in this house. She hired an inspector and paid for that and paid for all the changes it required.

Apr 21st 2015
1
0
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

That's unfortunate - sounds like the underwriter does not like something about the file in addition to the short work history. FHA does not usually directly "deny" a loan - that is done by the lender. Is there another person who would co-sign other than you? It would either have to be immediate family or someone that was going to also live in the home. -Again, depending on the details of her application I'd also be looking at the possibility of a conventional loan (usually a bit more difficult to get approved but not always).

Apr 21st 2015
1
0

Yes her grandma is willing to co sign for her.

Apr 21st 2015
1
0
William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,795 contributions

If you have enough income to support both your own debt, and the new housing payment for your daughters place, then you can cosign for her.. the rules are very clear... you have to have 2 years work history.. this is lending 101, so how she got to within a week of closing before anyone told her this just speaks to their competency level (or lack thereof) and their understanding of lending guidelines.. she will need 2 years work history or have an acceptable co signer if she is going to purchase a home.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Apr 21st 2015
1
0
Subscribe to our news feed.