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Updated 10 months ago on . Most recent reply

Carolyn Kreeger's profile image
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Carolyn Kreeger
  • from Littleton, Colorado
  • Member since Dec 4, 2016
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Carolyn Kreeger's profile image
Carolyn Kreeger's profile image
Carolyn Kreeger
  • from Littleton, Colorado
  • Member since Dec 4, 2016
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Carolyn Kreeger
  • Littleton, CO
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Private Lending & Conventional Mortgage Advice

Assuming an FHA loan if I’m not a first-time home buyer

Carolyn Kreeger
  • Littleton, CO
Posted

Can I still assume an FHA loan if I'm not a first time home buyer? It would be my primary residence but would be a third property.

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Brett Thomas
  • Member since Jun 24, 2022
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Brett Thomas
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Yes you can. HOWEVER, FHA/HUD is 4-6 months out minimum to get these done. So if you are in contract for 30-60 days there is no way you will meet your deadline. It is unfortunate. I helped 4 buyers with this process in 2023, brutal. None of them could meet the deadline. Sad part is listing agents are advertising "FHA Assumable Loan" on MLS and they dont understand the process/timing.

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