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Do I qualify for an FHA loan?

If I've never applied for or taken out a mortgage but my fiance recently added me to the deed on his condo, can I still qualify as a first time homebuyer?  I've never bought a home, but I guess I am now partial owner of one.  Is there anyway around that?
  • May 10 2011 - Bedford Stuyvesant
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Answers (4)

That is a common mistake now a days.  First time buyers won't get a better deal than anyone else now.  FHA 3.5% down loans don't discriminate against first time buyers.  You can get a really good loan, no matter if you are a first timer or you are not.
  • May 10 2011
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If you have had ownership interest in the past 3 years in most cases you are not eligible.
  • May 10 2011
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Thanks!  But I wouldn't qualify for any "first time homebuyer" programs right?  Even if my fiance now removed me from the deed.  I was on there and the damage is done? 
  • May 10 2011
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FHA is not a first time buyer program.  As long as you do not currently have an FHA loan you can obtaon FHA financing.
  • May 10 2011
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