Yes, a borrower can switch from self-employed to W2 job and get qualified for a mortgage. How long the borrower will need to be at the new W2 job will depend upon the type of W2 income they get (salaried vs hourly vs commission).
This clause ensures that buyers can reconsider the purchase without losing their earnest money deposit if the home does not appraise for at least the purchase price.
Yes, underwriters review income, assets, and credit right before closing a file to ensure that nothing has changed in the borrower's circumstances since applying.
Yes. FHA does not cap on the number of homes a borrower can own. However, FHA does restrict borrowers from having more than 1 FHA mortgage unless you meet some exceptions.
