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With any type of loan program, you are going to need steady employment. You are going to traditionally need 2 years of employment in the same line of work.\u00a0<\/p>
This is common for all types of loans including conventional loans. The lender wants to see some consistency in your employment and your income.<\/p>
Your income can increase over time and they are likely to take an average of it. Unless there is a major hike or drop in your income and then they might consider the most recent one.<\/p>
They are also going to see some assets, like your 401k, stock accounts, checking accounts, saving accounts.\u00a0<\/p>
They want to see if you have money in the bank and from where the down payment is coming from.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t