Can I still use a FHA if I used a conventional prior?

[Jonathan Rivera]

So I was wondering if I can still use a FHA(first time home buyer)…

Here’s my situation, My wife purchased a home before we got married & everything is under her name. She used a conventional loan for the purchase.

We soon will buy a new home but, since we are married this time around both our names will go on that property and we will use conventional again which makes it look like I already purchased a home before.

I am wondering if I can still use a FHA since I never used it before & yes I do understand the regulations that I have to live there for up to a year before I can fully rent out the property which will most likely be used for a duplex.

Any feedback thanks!

[Dave Kush]

Yes, you can. In fact, they have some weird reset provision, or at least they used to, where even if you've used an fha, you can get one again a certain number of years later.

[Carlos Valencia]

Hi Jonathan, 

Yes you can FHA is not for first time home buyer. No need to worry about you can use it even after having a conventional loan. If you can qualify on your own its best to go on the loan by yourself so you and your wife can maximize using conventional loans for future investing. You can max out at 10 conventional loans each if you plan accordingly. Your wife can still be on title and only you on the loan. The only time you need to worry about using FHA is if you already used FHA and you want to use it again as there's guidelines to use FHA again to buy another home. There's also some exceptions to use another FHA loan as well. Hope this helps.

@Albert Bui @Matthew Kwan