Posted on: 21st Jan, 2014 11:48 pm
Hi everyone... We had a FHA loan in my name. We were a first time home buyer at that time. Later on the loan was refinanced, I was removed from the loan. Now we are divorcing. Can I get a FHA loan in my name now? Or is it that I can get a FHA loan as a first time home buyer?
Hi Chemblin,
Well, I haven't heard of any such rule which states that FHA loans are available only to the first time home buyers. As soon as your divorce is finalised, you can apply for FHA loan.
Thanks,
Jerry
Well, I haven't heard of any such rule which states that FHA loans are available only to the first time home buyers. As soon as your divorce is finalised, you can apply for FHA loan.
Thanks,
Jerry
People mistakenly think FHA is for first time buyers only all the time - this is not true - anyone can use FHA and just because you have had a loan in the past in no way dis qualifies you from getting another loan later - only in rare scenarios can you have more than one FHA loan. In your case you have paid off the loan (when you refinanced out of your name) so you are fine -
Good luck
Brian Barnes
ENG Lending
Nationwide Lender
Good luck
Brian Barnes
ENG Lending
Nationwide Lender
