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oscar
1189 Posts |
 Posted - 11/04/2009 : 6:38:00 PM
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Guys,
So, how many FHA loans can you actually have at the same time?
My buyers qualify only for FHA (if I run it). They currently own their primary residence via an FHA loan (still has a balance and high LTV). They would qualify with both payments counted against them, that's not a problem. They want to buy the house that just came up for sale next to one of the buyers' parents' home. It's 3 times bigger, a foreclosure with guaranteed instant equity, and built-in babysitters next door! Will FHA/lenders allow for the purchase to take place while they still possess their current home with FHA financing?
Please advise. Thank you! God BLESS America!
Oscar. |
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KHufford
10407 Posts |
Posted - 11/04/2009 : 7:09:36 PM
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FHA wont allow this unless extenuating circumstances. This doesnt meet any of them, no go.
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oscar
1189 Posts |
Posted - 11/04/2009 : 8:43:01 PM
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quote:
Originally posted by KHufford
FHA wont allow this unless extenuating circumstances. This doesnt meet any of them, no go.
Roger, Kyle. Thanks!
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