Phoenix Foreclosure Home Search - Free HUD home lists, information on how to buy HUD homes in Arizona and how to qualify to buy HUD foreclosure homes in Phoenix, and information on programs such as the Teacher Next Door, Officer Next Door, and down payment assistance programs

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Employment Requirements for a Home Loan

A borrower must show a history of stable income (a minimum of two years within a profession without frequent job changes).

Self-employed or commission income borrowers must average the last two year’s adjusted gross income from their federal tax returns (gross income minus business expenses).

In addition, a borrower must show a 12 month history for child support and alimony payments that will be used as income (e.g. cancelled checks, court documents, etc.) and be able to prove that the payments will continue for a minimum of three years.

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