FHA Loan/Purchasing a Home : personalfinance


Hello,
I am 25 y/o living in Memphis, TN and I want to, instead of renting apartments, purchase a home.
I was unemployed due to covid 19 for around 7 months and I am currently employed making about 60k Annually.

I have been working as a Analyst and Supply Chain since March of 2019. Due to most IT and Supply chain positions being contract. I have had 3 jobs in this period under the same genre of roles, this includes being unemployed in April 2020-Oct.2020.

Based on this information, can I start looking at Loans to purchase a home ($150k Max) or should I give it another year of renting before I can do this? And how bad has my unemployment affected my chances?



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