Posts tagged "fha"

fha credit score guidelines

It is said that there are exceptions to FHA loans that allow you to have two FHA loans? Is this true?

Hello, my husband and I recently married last year and has 6 children of their own children and I have 3 mine. Needless to say we need a bigger house. The house is now (as are the tenants.) My husband already have a FHA loan on that house .. The house said we can not have an FHA loan because you already have an FHA in our present house. We do not want to refinance the first house with a classic regular loan because the loan has a very low 5% on it. I heard today that there could be some exceptions to FHA guidelines affecting a pause for "extended" family .. Is this true? these are the exceptions! Also why resist get a conventional loan in the new house is that my husband credit score is not very good and we have estimates of 8.5% and more! Help! We are ready to close in a month! Thanks!

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