FHA loan and 203k loan

4 Replies

The house I am in now was bought by my wife 3 years ago before we were married... So the loan is completely in her name, can I take out a 203k loan in my name and rent out our current home? Or would I have to refinance my current home and pay off the first FHA loan? Or is it not possible to get a second FHA or 203k at all?

The best route would be to refinance it and then reapply for a new FHA loan.

This post has been removed.

Is it possible to each have our own FHA loan for a total of 2 though?

@Tim Vander Ploeg Hi Tim. You can definitely do this loan in your name only. You do not need to refinance it out unless you need to have your wife on the loan to qualify. If you do need her and do not want to refinance out of the current FHA than the property must be over 100 miles away from your wife's current property.

If you are going regular FHA or 203k but in your name only you are good to go!

Hope this helps and happy investing! 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.