Profile picture for tribal2007

i want to buy a second home with a fha no money down

  • January 31 2010 - North Las Vegas
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Answers (3)

Profile picture for wetdawgs
FHA loans are for your primary residences and require 3.5% down.  (There are rumors the percent down will increase).     Occasionally there are mitigating circumstances where you must move when a second FHA is allowed especially if you have substantial equity in your first home.

 
  • January 31 2010
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FHA no longer has a no money down program. In fact, the downpayment rate has been raised to 3.5 % and Seller contribution reduced by half. In my area of Delaware, mortgage companies are using the Rural Housing guaranteed fund as their answer to no money down.
  • January 31 2010
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FHA loans require owner occupancy.  And, currently, FHA loans require a 3.5 % down payment.  Soon, the FHA is going to require a 5% down payment. 
  • January 31 2010
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