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USDA FHA or Conventional?

When I was looking last year, I was using a job offer letter (from state gov) to qualify, which the lender didn't seem to mind. Now, though, I have been in that job 10 months and will be due for scheduled raise in September that bumps my salary $4,000. I've also applied for a promotion that, if I'm chosen, will bump me up $11,000. The outcome of the promotion should be decided by end of July.

I also have a 2nd job I work on weekends that brings me about $14k/yr which I've worked for 7 months now. I am hoping to use this income towards my loan. I am ideally trying to move sooner rather than later because I have a 2hr round trip commute at the moment that is really wearing on me.

My question is: which type of loan will allow me to use income from both jobs, despite having been at neither for a year? I obviously have proof of consistent deposits from both. Is it better to wait til my scheduled raise in September? Or (fingers crossed) til I get accepted for the promotion? I have 4% DP for the max price I'm looking at and obviously can put down more if the price is lower. The entire area I'm looking at is qualified for USDA so that's what I'd like to shoot for, but I'm not sure of their eligibility requirements. I want to take advantage of any sort of 0 down, or DPA, or anything else that I'd qualify for so whichever loan provides the best opportunity is the one I will use.

submitted by /u/BrightNature5683
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/14e30zy/usda_fha_or_conventional/
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