Updated over 5 years ago on . Most recent reply
Can a person have more than 1 Government backed loan at a time?
My Brother and I were debating on the subject of if an individual could have more than one Government backed loan out at a time ie. FHA, VA, USDA. I believe I remember listening to Brandon Turner's book on Low and No money down saying a person could only have out one at a time. My brother doesn't think this rule exists. I have a FHA loan on my current property and he has a VA loan. Would it be possible for us to partner on a new Government program loan either USDA, FHA, or VA to purchase another property, granted one of us lives in the residence for the 1 year required? Think small multi family here. Any advice from someone who knows the requirements welcomed. Thank you in advance!