FHA & Marriage - Loophole?

[Rachel Luoto]

Hi BP!

Looking to buy my first property and wondering how my situation might shake out, google has not been helpful.

My boyfriend bought his house FHA four years ago. If we were to get married, would I still be able to use my FHA (for a multifamily or live-in flip) and rent out his current home? Would we have to refi to conventional? The current house is in his name only.

Thanks for helping me figure out if I should make a move to do FHA before marriage, or if it's still a viable option after.

[Jeff Brower]

Not exactly true @Robert Herrera. You are correct that you must live in the house for one year if you purchase using an FHA 3.5% down owner occupied loan. But you must refinance out of that loan into a conventional if you want to use another FHA loan. You can only have one at a time. You can use an FHA loan an infinite amount of times with no limit, so long as your refinance out of each one before trying to use again.