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If I had a previous FHA loan can I get another one

by bernice_jones809 from Aliso Viejo, California. Apr 8th 2015 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

Yes.. but in most scenarios, you cannot have 2 FHA loans open at the same time.. so long as your previous FHA loan is no longer open, you should be fine.. you would still need to meet all other eligibility requirements, so it's best you contact a local mortgage broker and let him look at your complete loan profile so he can put you in a position to close fast once you find a property..

Apr 8th 2015
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Larry Goodrow (larry_goodrow@yahoo.com)
#1040 ranked lender in California - 20 contributions

yes you can as long as you pay off the one you had as cant have 2 of them at the same time, what are you seeking to do? let me knowcall me and I can get you going and closed within 21 days! and the best rates in town!

Apr 8th 2015
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Larry Gray (lgray_312_247)
#563 ranked lender in California - 1,127 contributions

I concur with Larry Goodrow. Can you refinance out of your current fha intoa conventional loan? I would be happy to qualify you for a conventional loanrefinance at possibly no cost, so you are free to go for an FHA loan for eithera second home or another primary home purchase. If you do not have a property now,then you absolutely can!

Apr 8th 2015
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

I don't read your question that you have FHA loan now, so that would be not be a reason you could not be approved for another unless you possibly defaulted on it or still have that loan now and are applying for another to purchase a home in the same area as the property that already has a FHA loan. There are exceptions based on changes in family size but in general those are the conditions. Ultimately, you need to speak to a knowledgable mortgage lender and let them help you evaluate your options.

Apr 8th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

As long as your previous FHA loan has been paid off you will be good to get another one. Of course you still need to get pre-approved first. Talk with a local loan officer and see what all of your available options are, you might be surprised. Best wishes, Sean

Apr 8th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,565 contributions

Sure... you can use FHA multiple times. You just technically can't have two at any one time. There are a few exceptions to the two at one time rule.

Apr 9th 2015
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