Posted on: 07th Nov, 2012 10:38 pm
Hello there… My wife and I would like to purchase a second home. To do that, we would like to qualify for a FHA. Has anyone had any experience obtaining a FHA loan for a home that is not their primary residence? Is there any way around it?
Hi Guest!
Welcome to forums!
You haven't mentioned whether or not you will be selling off the property. If this will be your second property or vacation home, then it will be difficult for you to qualify for a FHA loan on it.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You haven't mentioned whether or not you will be selling off the property. If this will be your second property or vacation home, then it will be difficult for you to qualify for a FHA loan on it.
Feel free to ask if you've further queries.
Sussane
If your second property is not your primary residence then it is not possible. But if you are selling your current property or purchasing new property due to a job relocation, increase in family size etc then it might be possible.
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[External link deleted as per forum rules. Thanks.]
You can get an FHA loan for a second home with an exception. The exception is as follows:
The second home exception is primarily for seasonal employment or other circumstances related to employment. The second home cannot be a vacation home or an investment or rental home
The second home exception is primarily for seasonal employment or other circumstances related to employment. The second home cannot be a vacation home or an investment or rental home