For example, with an FHA loan an underwriters won’t want to see more than a 6 month gap prior to going back to work and you’ll need to document 24 months of employment prior to the gap in employment. A few other notes regarding income on an FHA program.
http://qna.mortgagenewsdaily.com/questions/length-of-employment-to-obtain-mortgage
The same holds true if you have changed from one job to another in the same line of work (Income level staying the same or increasing). If you have had a long gap in employment, and are just returning to work, you may be required to establish a 6 month work history for qualification.
http://qna.mortgagenewsdaily.com/questions/length-of-employment-to-obtain-mortgage
Reserve requirements will vary from bank to bank, and from mortgage program to mortgage program, but you can get a good idea of what you may need to provide for different property types. – Owner-occupied residences typically require two months PITI in reserves, but may ask for up to six months.
http://www.thetruthaboutmortgage.com/assets-and-reserve-requirements/
Tip. 1  Talk to several lenders about its policies for using alimony to qualify for a mortgage. 2  You should always get pre-qualified for a mortgage before shopping for a home. 3  When making a purchasing decision, select a home that you can afford after alimony payments cease.
http://homeguides.sfgate.com/use-alimony-qualify-mortgage-2252.html
Make sure your alimony will continue for three years beyond the time you apply for the mortgage. Many lenders will not approve a mortgage unless the alimony continues long enough for the borrower to secure an education or training for a higher-paying job or to secure a job.
http://homeguides.sfgate.com/use-alimony-qualify-mortgage-2252.html
2. As with so many mortgage questions lately, the answer is…..It depends ! If this is a job right out of college, in the field in which you have received your degree (or technical degree), you may only need 1 month.
http://qna.mortgagenewsdaily.com/questions/length-of-employment-to-obtain-mortgage
– If you plan on using business accounts for assets, you’ll likely need to be the 100% owner. Although if you own only 50%, some lenders will accept a CPA letter stating what percentage the borrower has access to, and that the use of those funds won’t affect the business negatively.
http://www.thetruthaboutmortgage.com/assets-and-reserve-requirements/
If the new employment is paid on commission and / or other variable income types, up to 2 years of income history may be required. In your case, one of the first 2 examples are most likely the case. Please consult with a Mortgage lending professional in your area to review your exact situation.
http://qna.mortgagenewsdaily.com/questions/length-of-employment-to-obtain-mortgage
For a W-2 employee the length of time on the job is not as important as the length of time employed. FNMA, FHLMC and HUD want to see a minimum of a two year employment history. If there are gaps of employment over the last 24 months they require a written explanation.
http://qna.mortgagenewsdaily.com/questions/length-of-employment-to-obtain-mortgage
For Fannie Mae and Freddie Mac loans (conforming), reserve requirements vary based on credit score and LTV, along with property type. They can range from as little as zero months to as much as 12 months, depending on the scenario. As a rule of thumb, more risk requires more reserves. There is no reserve requirement for FHA loans on 1-2 unit properties. However, 3-4 unit properties typically require three months of PITI.
http://www.thetruthaboutmortgage.com/assets-and-reserve-requirements/
how many months do you need to show income to include in mortgage qualification
You need six months to show income to include In mortgage qualification.