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Profile picture for viki123

Can I get a FHA loan with me on mortage and title

I am my wife may seperate out in the near future. I would like to buy a home as the market is good now. I wanted to get a FHA loan in Florida, my wife is ready to sign any property related document. Can I get the FHA loan with me as signing the mortage papers and only me on title.
  • March 15 2009 - Fort Myers
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Answers (3)

Profile picture for joetow
Check with a bank/lender in your state. Under FHA guides you will get hammered if the other home is still in your name at time of purchae of the new home. If you have less than 25% equity in the old home, you will have to have 6 mos. (I believe) of mortgage payments in reserve on BOTH properties. Read about the "Buy and Bail" policy at HUD.gov.
  • March 22 2009
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The loan documents would be no problem but with Homestead laws if this is your primary residence which it should be if you are getting an FHA loan, unless you have a Final Judgement then you would both have to be on title.  You might be able to do something with an agreement that she will quit claim off of the deed at the necessary time but you will want to consult an attorney before you do something that could cause you any legal issues later.
  • March 16 2009
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Yes, you can get a FHA loan in your name alone.
  • March 15 2009
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