For FHA mortgages orginated after June 2013, mortgage insurance stays on the mortgage for the life of the mortgage. Except if you put 10%+ down payment when you orginated the mortgage, then mortgage insurance drops off after year 11.
Mortgage lenders require a look back at your employment over the past two years. It is acceptable to have switched jobs over those two years, have a small gap in employment, or even be in school over the past 24 months.
Yes, the lack of W2 income does not equate a dead end for the mortgage application process. Applying for a home mortgage without W2 income might require more documentation
The Federal Housing Administration (FHA) mortgage program is a popular choice for many homebuyers due to its low down payment requirements, flat mortgage insurance and flexible credit and income rules
