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I heard there are exceptions to FHA loans which allow you to have 2 FHA loans? Is this true?

Written By: admin on September 14, 2009 One Comment

hi, my husband and I just recently got married last year and he has 6 kids of his own and I have 3 kids of mine. So needless to say that we need a larger house. The house we have now we are going to rent out (already found tenants). My husband already has a FHA loan on this house.. The house we found we are being told that we can not have a FHA loan since we already have a FHA on our current house. We don’t want to refinance the first house with a regular conventional loan because we already have a really low 5% loan on it. I heard today that there might be some exceptions to the FHA guidelines that cut some break to "extended" families.. is this right? what are the exceptions!! Also the reason we are reluctant to get a conventional loan on the new house is that my husbands credit score is not that fantastic and we are getting quotes of 8.5% and up!! Help!!! We are set to close in a month! Thanks!!


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One Response to “I heard there are exceptions to FHA loans which allow you to have 2 FHA loans? Is this true?”

  1. Alton J. Jones on: 14 September 2009 at 12:17 pm

    My blog, How To Get Excellent Credit Gab, provides the opportunity to share thoughts, thoughts and experiences about obtaining excellent credit and emphasizes the importance of building and maintaining excellent credit and the perils of personal financial mismanagement. This may help you resolve your problem.

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