In contract on a house in AZ FHA 360k. Pre approved with a lender. Then underwriter withdrew funding due to my wife’s employment. She’s been working for the same company for 4 years. However it’s through a 3rd party so it’s viewed as temp even though employer provided a letter stating she has min 2 year contract for employment.
Posted by imdustyblack
4 Comments
This employment letter situation complicates the financing timeline. Most lenders want to see employment stability. You might want to explore lender programs that allow employment transitions if the letter from the current employer establishes a strong employment history. Getting ahead of this with your lender now could save you significant delays down the road.
2 year history established doing contract work usually isn’t an issue if its been consistent and stable. I’d reach out to some other lenders
Proof of Bank statements and steady income. I would email HUd and get clarification. Sometimes some of these underwriters try to make things difficult.
I wish this were my file I would get it done