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Yes, you can get a FHA loan too!

Todays Date: November 12, 2018

There is a common misconception that FHA loan are for first time home buyers only. This is not true! Anyone can apply for a FHA loan. If you have several houses, you can still apply!

If you don’t have the 3.5% for a down payment, you can get this from a relative. Credit score not good? That’s not too much of a problem as FHA loans can still work with you and get you a great 30 yr fixed rate. These rates are comparable to conventional loans.

To get a FHA loan, the property has to be your primary residence. A non-occupying person can even co-sign with you for a FHA loan. In most cases, you can have only 1 FHA loan at a time.

If you get a FHA loan, the house has to be your primary residence. If you don’t qualify on your own for a FHA loan, you can get a non-occupying co-signer to help you. You can only have 1 FHA loan at a time, but there are sometimes exceptions.

With what people are paying in rent, a mortgage payment could be very close in amount. A FHA loan, 3.5% down, and low interest rates make it possible especially with fallling house prices.

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