Employment History Required for a Kentucky Mortgage Loan Approval Kentucky Conventional Mortgage Two year is standard but shorter employment...
Kentucky VA Mortgage Program
The VA Program requires lenders to verify an applicant's employment history for the prior two years although there is no minimum employment history guideline
The VA Program requires lenders to verify an applicant's employment history for the prior two years although there is no minimum employment history guideline
Applicants with an employment history of less than a year may be considered if the lender determines and documents that the applicant has a high probability of continuing his or her job
The applicant's employment history is evaluated on a case-by-case basis
Active military personal who are within 12 months of their release date are required to reenlist or provide verification of a job offer after their release from the military
Self-employed borrowers are typically required to demonstrate a two year job history unless the applicant was previously employed in a similar line of work or received specialized training in that field
A self-employed history of less than one year is highly uncommon
A continuous and verified two year history of part-time employment is generally required
The applicant's income from part-time work should be steady and predictable and the lender is required to determine that the work will continue in the future
The lender is also required to confirm that applicants can handle the part-time job along with the demands of their primary job
A two year work history is required for bonus, commission and overtime income to be considered by the lender unless the borrower has extensive experience or training in their field of work
The lender must determine that the income is predictable and likely to continue in the future
Bonus, commission and overtime income with less than a two year work history is rarely permitted and requires extensive documentation by the lender
Joel Lobb (NMLS#57916)
Senior Loan Officer
Senior Loan Officer
American Mortgage Solutions, Inc.
10602 Timberwood Circle Suite 3
If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at 502-905-3708.
