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Old 06-15-2010, 08:32 AM
 
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I purchased my home last year with an FHA loan. I am getting married this september and my Fiance has never owned a house. Can we use a FHA loan again if she has never before, or not. I am inclined to believe that we can't because I have a FHA loan, but I thought I would ask anyway.
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Old 06-15-2010, 08:36 AM
 
Location: Hernando County, FL
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Are you buying another home or just looking to refinance?
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Old 06-15-2010, 08:37 AM
 
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Originally Posted by Mike Peterson View Post
Are you buying another home or just looking to refinance?
Buying another home. We are going to rent out my house and purchase another one.
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Old 06-15-2010, 09:24 AM
QIS
 
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As long as she is the only one on the loan, then yes! Good idea and I hope it all works out!
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Old 06-15-2010, 10:50 AM
 
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Quote:
Originally Posted by ravenr6 View Post
I purchased my home last year with an FHA loan. I am getting married this september and my Fiance has never owned a house. Can we use a FHA loan again if she has never before, or not. I am inclined to believe that we can't because I have a FHA loan, but I thought I would ask anyway.
Since you say "we" the answer would be no. You can use FHA financing as many times as you want, BUT you can only have one FHA loan outstanding at a time.

If you refinanced your current home to a conventional loan, or if you only used your fiance to qualify for the new home then the FHA loan would work.
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Old 06-15-2010, 02:07 PM
 
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Ok thanks everyone!
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Old 06-15-2010, 03:56 PM
 
Location: Austin
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If you buy it once you're married, no you may not. You can only have one government loan at a time be it an FHA or a VA. If she buys it before you get married, then yes, but not if you're income is going to be used to qualify. You will need to refinance your home into a conventional loan first.
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