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Answers (3)
Best Answer
- DaveAndersson
- Contributions:268
Here is a link to the FHA's answer on obtaining a second FHA loan.
http://www.fhaoutreach.gov/FHAFAQ/answerPre.jsp?solutionid=AAVA-2F0ZGG
It can be done if you are relocating, had an increase in your family size, if you are vacating a jointly owned property or if you were the non-occupying co-borrower.
http://www.fhaoutreach.gov/FHAFAQ/answerPre.jsp?solutionid=AAVA-2F0ZGG
It can be done if you are relocating, had an increase in your family size, if you are vacating a jointly owned property or if you were the non-occupying co-borrower.
- Adam Booten, "anbooten"
- Contributions:78
You can have two FHA loans at the same time, but you will have to qualify for the two payments and their are certain circumstances, like the ones Dave mentioned to allow you to do this.
I would make sure to have your loan officer check with their underwriter before you get too involved in the process. I am sure you would hate to get to the end before you realize that this cannot happen.
I would make sure to have your loan officer check with their underwriter before you get too involved in the process. I am sure you would hate to get to the end before you realize that this cannot happen.
- Jackye Mumphrey, "Jackye Mumphrey"
- Contributions:85
Can I get a second FHA loan before expiring (selling) the first (house)?
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