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my wife can't qualify for fha on her own, can i coborrow with her even i already have an fha mortgag

  • June 04 2012 - Woburn
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Answers (7)

Unfortunately that's not correct Jim, given certain circumstances you're allowed to have two FHA loans at the same time.

It'd be a good idea to get with your most knowledgeable loan officer and get properly educated on this aspect of lending.

  • June 05 2012
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You can only have one FHA loan in your name at a time.  Your other mortage will need to be refinance into a conventioanl loan (if your income can support it) or you will have to close on your current home first.
  • June 04 2012
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Did you have any children since purchasing that property?  Having your family stay with you sometimes will be very difficult to prove.
  • June 04 2012
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Profile picture for user607683
it's 2 unit home each unit got 2 bedroom,sometimes my mom and sister stays with us for months.it's 10 miles away from work.i want my new place to be close to work as possible
  • June 04 2012
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You have two floors for a single family residence or a two-unit property?

How many bedrooms and bathrooms do you currently have in your "house" or "unit" depending which you currently own and how many will the one you're looking at have?  Has your family size increased since purchasing your current home?  How far is it from where you currently live?  How far is your new place from work?  How far is your work from where you are now?
  • June 04 2012
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Profile picture for user607683
yes we are married occupying the current fha insured home
it's 2 floor we are living in one and renting the other.
we are planning to occupy the new one.
  • June 04 2012
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You didn't provide enough information here, please elaborate.

Do you occupy the current FHA insured home now?  If not, is it currently being rented out/in another state now?  Are you and your wife living together/plan to both occupy the home? Are you married but not-legally-separated spouses?
  • June 04 2012
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