Where can I find qualifications for having 2 FHA home loans for TX?

Re: Where can I find qualifications for having 2 FHA home loans for TX?

• May-Bride

  August 2011

  My understanding is that you can have more than one, but that getting approved for a second FHA loan is very difficult. I would call a few different lenders and ask what the requirements for a second FHA loan are.

  Report0 Reply
• halfpin21 member

  August 2011

  I could be wrong but I remembered my mother was looking into this.  I think you can get a second one but you need to have a lease agreement for the first before you get the loan.  They basically want a guarantee that the first house would be paid for.  I think...I'm no expert and I don't have any sources to back this up.

  Report0 Reply
• JayandJack

  August 2011

  From what little I can get people to tell me I don't think credit is a problem with us. It's a numbers game at this point.

  They want me to run my credit and I'm not willing to do that just yet till I have more information.  They should have ranges or if/then sheets but they won't give me any info.
  

  Warning No formatter is installed for the format bbhtml

  Report0 Reply
• Desmond&MollyJones*

  August 2011

  I was always told I couldn't have two FHA loans at one time, but it would appear that I've been told wrong.

  We refi-ed our FHA loan into a conventional and then bought our new house with an FHA.

  Report0 Reply
• x3Harmony534

  August 2011

  We attempted to get two FHA loans but it is like 99.9% impossible. I don't know if there are any hard & fast rules about it, you can basically try to get an exemption & apply for a second but unless you have a huge amount of equity in your current place I think they view it as too high of a risk. At least that's how it was explained to us. We tried several routes (expanding our family, moving for a job, etc.) & it was a no-go unfortunately. Good luck though! I hope you can get something worked out.

  Report0 Reply