MY situation goes like this...
I purchased my first non-owner occupied duplex with cash in 2017 in my name only (On the deed and title)
My soon to be wife and I want to purchase a home using FHA financing after we are married to move closer to her parents this year. (Currently renting in NYC)
She has never purchased a property.
Are we able to qualify for FHA financing together due to the fact that neither of us has purchased an owner-occupied home?
fha loan is not only for first time home buyers. as long as you do not have another fha loan, and plan to owner occupy you should be good to go.
Yes on that part.
However, FHA has other qualifying and non-qualifying factors like credit score and DTI. Best bet is just talk to a lender or a few different ones and start to get an idea of what type of loans will work best for what you're looking for. Good luck!
@Kadeem Howell yes, you can receive an FHA loan based on what you described above. Having moved to Texas from NYC please check the FHA county loan limits for your area. Based on where the property is they might have a limit of how much they can lend you. Good luck!
Hurry up and get two! You can both qualify for an fha mortgage separately prior to marriage. Depending on when you are getting married, you could make this happen. Of course, you have to live there for one year if you are buying fha. Just something to think about ;)
Spoken like a true salesman, made me smile :)
"Hurry up and just buy 2, who cares if you and your new bride live separate for a year!!!!"
haha @Mike Cumbie . If she doesn't understand the benefits of a 3.5% down mortgage at historic low rates on a 30 yr term then she isn't marriage material ;)
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