Moonlighting No Help to Americans Seeking to Buy a Home
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Yael Ishakis, a loan officer for First Meridian Mortgage, rejected an application three weeks ago from a woman who had a high credit score and a 20 percent down payment.
The 47-year-old home health aide needed the combined income from her full-time position and a part-time night job, which she held for 18 months, to qualify for the loan. The hitch: new federal rules typically require two years at a part-time job before those wages can be included in an application.