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Tagged with: fha loan
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Brian G
19 days ago
I owner occupy a Duplex that I purchased using my VA Loan. I'd like to now use an FHA Loan to buy a Triplex. Based on what I am charging my tenant I am extremely confident that I will be able to get that same amount as rent from another tenant when I move out of that unit. Problem is a "well meaning friend" has told me that I can't count the potential rental income of that unit unless I purchase a triplex that's at least 100 miles away!

I can see if i already had an FHA Loan and I was trying to get another FHA loan on top of that where this restriction would come in, but I don't have an FHA Loan?

Can anyone verify this, perhaps with a link?
I owner occupy a Duplex that I purchased using my VA Loan. I'd like to now use an FHA Loan to buy a Triplex. Based on what I am charging my tenant I am extremely confident that I will be able to get that same amount as rent from another tenant... (more)
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My partner and I (not married) purchased a home earlier this year in California with an FHA loan (under my name). We would like to have joint ownership of the home on paper, but for credit reasons we chose to secure the loan under my name. We were told that we could simply fill out a quitclaim deed after the loan closed, but I am getting conflicting information about whether or not this is possible with an FHA loan. How should I go about adding him to the title? Thanks!
My partner and I (not married) purchased a home earlier this year in California with an FHA loan (under my name). We would like to have joint ownership of the home on paper, but for credit reasons we chose to secure the loan under my name. We were... (more)
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A Curious User
a month ago
We have a friend who is in the process of purchasing her first home and is applying for an FHA loan. She has been told conflicting things about obtaining a grant from the Down Payment Plus program. Can you help shed some light on this?

Thanks.
We have a friend who is in the process of purchasing her first home and is applying for an FHA loan. She has been told conflicting things about obtaining a grant from the Down Payment Plus program. Can you help shed some light on this?

Thanks.
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A Curious User
a month ago
I know you can not get an FHA loan if you inherited a house, but can I qualify for an FHA loan if I inherited commercial property?
I know you can not get an FHA loan if you inherited a house, but can I qualify for an FHA loan if I inherited commercial property?
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jezter10000 .
2 months ago
I just got my house with an FHA Loan and would like to run my Massage Therapy business from my house which is permissible by the city I live in but is this allowed by FHA rules?
I just got my house with an FHA Loan and would like to run my Massage Therapy business from my house which is permissible by the city I live in but is this allowed by FHA rules?
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A Curious User
3 months ago
I’m currently living in Eau Claire Wisconsin, in a rented home. I was a home owner in Puerto Rico four years ago.

Before to starting living at Wisconsin (year 2013), I had my home in Puerto Rico on sale with the buyers with a loan approved.

As part of my relocation benefits my company was providing sales assistance to my home. But at the moment of the closing, it was discovered my home and also the entire neighborhood in where the house is located were not free of liens.

The entire story for having this liens is the following: This was a new construction project consisted of 47 homes. The contractor made an agreement to the owner of the land in where the 47 homes are located. The agreement consisted to paid the money for the land to the land owner after all the houses were constructed.

That agreement from the contractor to the land owner never was completed and the land owner decided to take legal actions to the contractor. Unfortunately for us (all the 47 home owners) the contractor declared himself in bankruptcy.

The land owner with not more choices present to the court the situation and all the homes were to public auction around the year 2010. The legal situation continuing in course, and when I was moving from Puerto Rico on 2013 the bank told us the lien was cleared out and also I had the go-ahead to sell my home. I tried to sell my home twice with two different buyers but the lien issue was never resolved.

I’m continuing working with my lawyers and continuing paying my mortgage while I was not living any more in Puerto Rico. I paid the mortgage until November 2015, by recommendation of my lawyer and also because I don’t had any other option I give-up and stop paying my mortgage since then.

Back to the present, my home was sold in a public auction on March, now on my credit reports appears the foreclosure with $0 balance.

Sorry for the long email, but what I’m looking for is to have the opportunity to buy a home here in Wisconsin. I really had a good credit before this foreclosure. Actually this is my 4th year paying rent without any late payment. Also all my accounts, like credit card, car loans Cellphone bills ect, does not have any late payment.

I have all the evidence in the world to demonstrate the lien issue I had with my home in Puerto Rico and also the two times in where I had the buyers with the loan approved but the sale was cancelled by the lien legal issue.


Again, sorry for the long email I just need some orientation to who I can call or contact in order to have the opportunity to buy a home with a FHA loan. Why FHA? Because I don’t have the enough money now for down payment. I have an expectation to buy a home next year as soon my current renting contract ends.

Thanks for attending to this

Ismael
I’m currently living in Eau Claire Wisconsin, in a rented home. I was a home owner in Puerto Rico four years ago.

Before to starting living at Wisconsin (year 2013), I had my home in Puerto Rico on sale with the buyers with a loan approved.

As... (more)
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A Curious User
3 months ago
I was told that I had to show that I have made 3 consecutive monthly payments before the loan would get approved. My husband and I filed as married but separate to obtain a tax break because we have no eligible tax deductions. I started working a part time job to help our son get through college for 2 years.
I was told that I had to show that I have made 3 consecutive monthly payments before the loan would get approved. My husband and I filed as married but separate to obtain a tax break because we have no eligible tax deductions. I started working a... (more)
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Avery Gordon
3 months ago
I'm trying to buy the perfect home for me for about $28,000. The seller's agent does not list this home as a Cash Only sale, but insists that she won't sell it any other way. This home has been listed for 280 days now. Why can't I buy this home with an FHA Loan?
I'm trying to buy the perfect home for me for about $28,000. The seller's agent does not list this home as a Cash Only sale, but insists that she won't sell it any other way. This home has been listed for 280 days now. Why can't I buy... (more)
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Kathy Green
4 months ago
We are trying to purchase a lower priced home (50-60,000) In this hot seller's market we are beat out again and again over the last 3 years. We can pay cash to be more competitive but we can leave our cash in the house?

My husband is in a wheelchair and we need a good deal of that cash to make the necessary changes to needed for him. Can we purchase with our cash, and how soon after can we put a loan on the house to get our cash back out? How much will we be able to pull out? Someone please explain the formula (how the numbers work) and the time frame involved, if that is possible to do.
We are trying to purchase a lower priced home (50-60,000) In this hot seller's market we are beat out again and again over the last 3 years. We can pay cash to be more competitive but we can leave our cash in the house?

My husband is in a... (more)
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Dan Doherty
4 months ago
My daughter and son-in-law have a house they want to bid on but the outside siding has some peeling paint. I believe it is wood siding. Estimate $3000.00 to repainted. Will that disqualify them for a FHA loan? Credit scores are 800 plus. She's a nurse/mom and he has a job with USDA. Thank you.
My daughter and son-in-law have a house they want to bid on but the outside siding has some peeling paint. I believe it is wood siding. Estimate $3000.00 to repainted. Will that disqualify them for a FHA loan? Credit scores are 800 plus. She's a... (more)
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