What Documents Are Needed For An FHA Loan?
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What Documents Are Needed For An FHA Loan?
Question: I read to obtain an FHA loan, all borrowers need…
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Question:
I read to obtain an FHA loan, all borrowers need to show are proof of identification and demonstrate a reliable income stream, which could be two recent paycheck stubs. Is that true? All you need for an FHA loan, in addition to identification, are two recent pay stubs?
Answer:
No. You would need a two-year employment history as well as proof of down payment. Now, that down payment could be from a gift, from a relative. And as far as the employment, that would usually consist of two years’ W-2s. If you’ve just recently graduated, you can use a graduate degree or certificate in lieu of W-2s.
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