multiple FHA loans

FHA – Number of FHA loans Allowed Per Borrower- Can a borrower have more than one FHA home loan if their former FHA home is now an investment property?

Answer: FHA allows a borrower to have 2 FHA mortgages and for a departure residence to be used as an investment property. However, they must meet the guidelines below. Reference:4000.1, II, A, 1, b, iii, (A), (2) (c) Exceptions to the FHA Policy Limiting the Number of Mortgages per Borrower: The table below describes the only [...]

2018-09-25T09:34:16-05:00September 21st, 2018|

FHA – Multiple FHA Properties: When is it acceptable to have more than one FHA mortgage? [NEW Mortgage Talking Points MTP™- When Can a Client Have More than One FHA Loan?]

Answer: Listed below are the only circumstances in which a Borrower with an existing FHA-insured Mortgage for a Principal Residence may obtain an additional FHA-insured Mortgage on a new Principal Residence. Reference:  4000.1 II.A.1.b.iii.(A) RELOCATION – A Borrower may be eligible to obtain another FHA-insured Mortgage without being required to sell an existing Property covered [...]

2018-05-31T10:21:40-05:00February 22nd, 2018|