Will I be able to get an FHA 3.5 down rehab loan?

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Will I be able to get an FHA 3.5 down rehab loan?

Adam D.
Rental Property Investor · Manchester, CT · Member since 2018 · 15 posts · 0 votes
Hello all, I hope this is a simple question I've heard from some friends that I will not be able to get an FHA 3.5 down rehab loan for a multi family home that I will be house hacking in the Connecticut area because I've used my "first time home buyers" back in 2015. My question is, Will I be able to get this loan without any issues when it comes down to buying? Even though I already have a current loan on a single family home that's rented out.
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  • Michael Noto
    Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
    8y

    @Adam D. I just had a client go through this with a recent FHA 203k purchase here in CT.

    Feel free to reach out anytime via PM or phone call and I can breakdown how hue went about things. 

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  • Chris MasonPro Member
    Moderator
    Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
    8y
    Originally posted by @Adam D.:
    Hello all,

    I hope this is a simple question I've heard from some friends that I will not be able to get an FHA 3.5 down rehab loan for a multi family home that I will be house hacking in the Connecticut area because I've used my "first time home buyers" back in 2015. My question is, Will I be able to get this loan without any issues when it comes down to buying? Even though I already have a current loan on a single family home that's rented out.

    FHA loans, including FHA 203(k), are not restricted to first-time homebuyers.

    1Reply
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