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FHA 203k for First time buyers only?

Sorry if this is a "duh" question, but can you get a fha rehab loan if you already own a house? I have a place in Austin but live in LA now and would like to go the FHA route. I was looking at the official HUD FHA 203K fact sheet, and didn't see any mention of FTB requirements for eligibility. Then I clicked on the FAQs link and under borrower eligibility it *defined* FTB status - someone who has not owned a home in the 3 yrs prior to 203k application - but didn't say whether or how it applied. Any insight? Thanks in advance, y'all. by juliesims2020 from Los Angeles, California. Jan 7th 2011 Reply

Gregorio Denny (GVDenny)
#255 ranked lender in California - 380 contributions

You do not have to be a FTB to get a 203K loan.

Jan 7th 2011
Tammy Hileman (tamidyer2003)
#51 ranked lender in Arizona - 5 contributions

No you do NOT have to be a FTHB to be approved for a 203K

Jan 8th 2011
Melvin List (melvinlist)
#144 ranked lender in Florida - 124 contributions

You do not need to be a first time home buyer to qualify for a FHA 203K. I would make sure your Loan officer has experience with this product.

Feb 5th 2015
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