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Dave Williams
4 months ago
Have clean credit since ... need to sell and buy a new home prior to the 2-year FHA waiting period due to a hot sellers market.
Are there lenders who will handle a new loan for us prior to the 2-year requirement waiting period?
 
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Best Expert Answer
Joe Wallace... Answered 313 more questions
4 months ago
That would depend greatly on the type of bankruptcy, lender standards, and whether your bankruptcy has been discharged yet or not. If your bankruptcy was not discharged, your waiting period would begin the date of the discharge, not the filing date.
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Betty Kerrigan
a month ago
My son in law wants to purchase 10 acres of land, which includes a 3 bedroom\2 bath mobile home. He has been at his job for 12 years, but has no credit. He'd like to put 10% down. He's 57 years old and would be a first time home buyer. Would he qualify for a FHA mortgage?
My son in law wants to purchase 10 acres of land, which includes a 3 bedroom\2 bath mobile home. He has been at his job for 12 years, but has no credit. He'd like to put 10% down. He's 57 years old and would be a first time home buyer. Would... (more)
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April London
3 months ago
I had a mortgage in 2009 that was an FHA. I sold my house in 2016 as a short sale. I was able to pay off the original loan of $120,000. and the interest. I sold my house for $135,000. and was short late charges, refinance charges etc. I'm moving from Texas back to California. Can I qualify for a new loan there?
I had a mortgage in 2009 that was an FHA. I sold my house in 2016 as a short sale. I was able to pay off the original loan of $120,000. and the interest. I sold my house for $135,000. and was short late charges, refinance charges etc. I'm moving... (more)
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Mimi Alvarez
9 months ago
If the FHA loan was paid off less then 3 years, can the same applicant again apply for another FHA later?
If the FHA loan was paid off less then 3 years, can the same applicant again apply for another FHA later?
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Don Frost
9 months ago
FHA Owner Occupancy Requirements

I am looking to purchase a multi-unit building on an FHA primary mortgage. The first property I am considering is a triplex with 2 units vacant, but move-in ready, and one unit that needs a small amount of refurb. I want to rent the vacant units right away (for cash-flow purposes). My question is, how long do I have to complete the refurb and move in?

The second property I am considering is another triplex, but is fully occupied. Could I purchase this building on an FHA and wait until a unit became vacant to move in myself; or would I have to evict one tenant? How long would I have to complete those actions?

Thank you for your help and guidance,

Don
FHA Owner Occupancy Requirements

I am looking to purchase a multi-unit building on an FHA primary mortgage. The first property I am considering is a triplex with 2 units vacant, but move-in ready, and one unit that needs a small amount of refurb. ... (more)
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Lisa Gomez
a year ago
Can I apply for a FHA mortgage now or should I wait until my divorce is final? (Worried that I may lose out in an area that I am wanting to live)....
Can I apply for a FHA mortgage now or should I wait until my divorce is final? (Worried that I may lose out in an area that I am wanting to live)....
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