Can you be approved for a FHA mortgage loan if I already have a mortgage loan that is a conventional mortgage?
Posted by admin | Under FHA Mortgage Wednesday Aug 20, 2008The house that I have a mortgage has been sold as a contract for deed. The house that has the mortgage is within 50 miles of where I want to move to.
Thanks!
Yep…
Sorry dont know what else to say, you just have to intend to purchase the home owner occupied. You can actually have more then 1 FHA mortgage. Lets say your current home is FHA but you are moving 20-50 miles away, you can get another.
Anyway the answer is YES
yes as long as this is your primary home!!!
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Yep…
Sorry dont know what else to say, you just have to intend to purchase the home owner occupied. You can actually have more then 1 FHA mortgage. Lets say your current home is FHA but you are moving 20-50 miles away, you can get another.
Anyway the answer is YES
References :
Trained FHA underwriter
15 years mortgage real estate exp
mortgage brokers find lenders; daily
the offerings for loans change; maybe
you can get a new loan; ask a m broker!
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RE broker
Yes. I am a mortgage loan officer and we are FHA approved so in doing this every day I can tell you with a firm yes that you can. Next though they will look at your credit to determine if you qualify and make sure your debt ratios are in line.
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Yes, as long as you intend to live in the home.
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All mortgage loans are not created equal. If you are looking for a loan, you have probably discovered the array of loan types and options. It can be confusing forthe first-time borrower<!–and even for those with more experience! Here, we will discuss the different types of loan options, and how they work.
http://mortgages-finance.awardspace.com/
First, there are two main broad categories of mortgage loans: government loans (FHA, VA, and RHS, or Rural Housing Service loans) and conventional loans (all other loans). In general, government loans have low or no down payment requirements for the purchaser–>and are easier to qualify for than conventional loans. They are also guaranteed to the lender, which allows the borrower to obtain more favorable loan terms.
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