Are there any circumstances in which I will be allowed to have two FHA home loans?
Miami,FL | Oct 1st 2010
by Jillian...
Answer
by JennatA...
by INFO@CF...
by toddt@m...
by lmckenzie
Jililan,You can if you meet either one of these exceptions:You have a loan-to-value ratio of 75 percent or less, as determined by either a current (no more than six months old) residential appraisal or by comparing the unpaid principal balance to the original sales price of the property.You are relocating with a new employer, or being transferred by your current employer to an area not within reasonable and locally recognized commuting distance. A properly executed lease agreement of at least one year's duration after the loan is closed is required. You will also have to provide proof of the security deposit and/or evidence the first month's rent was paid to you.Hope this helps. Oct 2nd 2010 |
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