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My Husband has a mortgage with a condo he bought when he was single. (It is not an FHA loan) We want

  • March 19 2012 - Portland
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Answers (5)

With the information given it does not seem as though obtaining financing for a second home would be a problem. But as other posters have said, the only way to know for sure is to contact a lender.

  • March 20 2012
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Yes, easily.
  • March 20 2012
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The FHA loan is great because you can do as little as 3.5% of sales price for the down payment.  The guidelines have more flexibility vs a conventional loan also.  As far as credit goes, if you are over 700 you will qualify for a great rate with an FHA loan, as long as your debt-income ratios are within guidelines.  If you have quesitons feel free to call or email me as I've been in the financial industry for 17years.
  • March 20 2012
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The fact that he has a present mortgage should not prevent you from buying a home together.  It will be a factor in things like debt to income ratio.  Your question can really be better answered by a mortgage broker than a Realtor.  If you need a couple of names in Portland, email me. 
  • March 20 2012
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We want to buy a house together. He is currently renting his condo. Can we get a FHA loan. We both have credit score over 700
  • March 19 2012
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