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Second FHA Loan on a second mortgage?

Is it possible that I can have a second FHA loan if on the second mortgage I am a co-borrower rather than an occupant of the house? by bryce._314_638 from Houston, Texas. Oct 17th 2011 Reply


Joseph Afonso (jafonso)
#64 ranked lender in Arizona - 196 contributions

If you will be a non occupant co-borrower you should be fine.

Oct 17th 2011
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,815 contributions

Your question isn't real clear, but FHA will only allow an individual to have one FHA loan on one primary residence. If you were approved as a non-occupant co-borrower for the loan that currently exists, you should still be eligible for an FHA loan to purchase your own primary residence. If you currently have an FHA loan on your primary residence and wish to be a non-occupant co-borrower for someone else's primary residence, FHA should allow that as well.

Oct 17th 2011
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Mary Papageorge (MaryPapageorge)
#95 ranked lender in Texas - 48 contributions

Yes, you can be a non-occupied co-borrower as long as you can qualify on both mortgages; I have done this on numerous occasions. Also, for future reference if you ever want to lease out a home you have on a current FHA loan - as long as you have 25% equity, and moving to a larger home for family reasons; you could also obtain a 2nd FHA primary mortgage.

Oct 17th 2011
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Shon Atabaki (ShonAtabaki)
#51 ranked lender in Washington - 95 contributions

It is permissible to be a non-occupying co-borrower on an FHA mortgage when you also have an FHA mortgage on your primary residence. It is also permissible to obtain a completely new FHA loan on a completeley new primary residence if you were in a situation that required that you relocate to Dallas, even if you were to convert your existing current primary residence into a rental property. Best of luck!

Oct 17th 2011
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,414 contributions

Yes... WilliamAcres.com

Oct 17th 2011
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Andrew Ojeisekhoba (andrew@pmcmortgageloans.com)
#413 ranked lender in California - 3 contributions

Yes, it is possible.

Oct 17th 2011
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