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CIRCUMSTATES THAT ALLOW A 2ND FHA LOAN

Below are the circumstances that FHA allows an individual to own more than one FHA loan.

Principal residence – 1 FHA loan allowed per person, except when the applicant has an FHA property and wants to buy a 2nd owner-occupied FHA property due to:

 

  • Relocation
  • not within reasonable commuting distance
    • Increase in family size
  • current home LTV is 75% or less as established by an appraisal
  • Vacating a jointly owned property (non-occupying co- applicant) generally 1 FHA per person
  • Family member has co-mortgage for another family member

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