How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask FLRealEstateAnswer Your Own Question
FLRealEstateAnswer, Attorney
Category: FL Real Estate
Satisfied Customers: 28043
Experience:  Experience handling landlord/tenant issues, mortgage foreclosures, eviction, purchase and sale agreements
Type Your FL Real Estate Question Here...
FLRealEstateAnswer is online now
A new question is answered every 9 seconds

Can anyone explain to me the whole 2 year rule for

Customer Question

Can anyone explain to me the whole 2 year rule for qualifying for a mortgage in FL
My situation: I graduated in 2011 and worked as a medical technologist ( doing blood work in a hospital) from 2011 to 2015. In 2015 I left the hospital and I got a degree in nursing from 2015 to August 2016. I am a nurse now but I decided in August 2016 to get a new
Submitted: 10 months ago.
Category: FL Real Estate
Expert:  FLRealEstateAnswer replied 10 months ago.

Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help with your question and concern

Customer: replied 10 months ago.
To get a job again as a medical technologist. I might want to switch in the future to nursing
Expert:  FLRealEstateAnswer replied 10 months ago.

Can you share with me a little more about the situation? Are you asking about employment and using it for a mortgage?

Customer: replied 10 months ago.
the bot***** *****ne after school o decided to work again as a medical technologist but j am also a nurse and I would want to work as a nurse in a few months. Now the bank says i might not meet the 2 year rule for mortgage
Customer: replied 10 months ago.
But aren't both of these jobs are health care related? Now I need to wait on nursing until I get 2 years in order to qualify for a mortgage?
Customer: replied 10 months ago.
I feel like I have to put my life on hold and can't switch my line of work ( which is still in healthcare) because then the clock resets and I will need 2 years as a nurse in order to be approved?
Expert:  FLRealEstateAnswer replied 10 months ago.

A lender is going to want to see two years of work history / employment. For example, to be eligible for a mortgage, FHA does not require a minimum length of time that a borrower must have held a position of employment. However, the lender must verify the borrowers employment for the most recent two full years, and the borrower must

  • explain any gaps in employment that span one or more months, and
  • indicate if he/she was in school or the military during the most recent two full years, providing evidence supporting this claim, such as college transcripts, or discharge papers.

I know that I recently obtained a mortgage and was with a new employer for only 2 months and was able to obtain the loan. They wanted to see 2 paystubs and asked about previous employment, so as long as you can show being employed, they should underwrite the loan.

Customer: replied 10 months ago.
It doesn't matter the line of work?
Customer: replied 10 months ago.
I can switch from a medical technologist to a nurse?
Expert:  FLRealEstateAnswer replied 10 months ago.

Every lender is different. It should not matter nor should you be forced to stay in the same line up work. What the bank wants to see is steady employment. You should be able to switch and simply want to speak with your mortgage broker about this.

Customer: replied 10 months ago.
Ok... So they don't care much about the same line of work? They care about continuity of work?
Expert:  FLRealEstateAnswer replied 10 months ago.

Yes, correct. They will want to see continued employment and income.

Expert:  FLRealEstateAnswer replied 10 months ago.

Please let me know if you have any follow up questions or need any clarification on something which I stated above. Also, remember to rate my service at the top of this page, before exiting the site, so I can receive credit for my help. I hope you found it to be 5 STARS! Only rate my answer when you are 100% satisfied. If you feel the need to click either of the two lower ratings to the left, please stop and reply to me. I want to make sure your experience with the site was as pleasurable as possible and that you are satisfied with the help I provided.