quick(?) question about FHA loans
I am planning to move to Georgia (Dekalb County) in another year or two so that I can purchase a home. Currently, I live in SoCal (Long Beach), so purchasing a home on my single mother, public school teacher salary is out of the question. In reading the requirements for the FHA loan, one of the stipulations indicates that my employment must be consistent and show steady or rising income. When I move from California to Georgia, my income is going to decrease, and while I have taught for the same school district for 14 years, I will be a new employee when I move even though I will still be a teacher.
So the question: will I qualify for an FHA loan if I move from CA to GA? Will it be necessary to move, rent for a couple of years, and then purchase a home?
I am not yet ready to make this change (finishing a master's degree and I have a child in college for another couple of years), so I'm not sure whom to ask. I called one of the RE agents but was told since my move is so far in the future that I "shouldn't worry about those things." However, I need to have a definitive plan so that I can make this work.
Thanks so much for your input.