Cincinnati, OH · Member since 2018 · 85 posts · 29 votes
Hello everyone! My wife and I are looking to purchase another house to house hack. Our current house was bought with a conventional loan because it was cheaper than renting.
We were curious, is it possible to purchase a property using an FHA loan in my name only, live in it for a few years, and then down the road purchase another property using an FHA loan in my wife's name only?
I know that we could always refinance out of the loan, but just curious if this is an option?
Technically you could just get another FHA loan yourself should you move for a "legitimate" FHA approved reason. If you are planning on just moving down the street then that won't do. Good examples would be an increase in family size, work relocation, things like that.
If you are keeping the loans...not title... but the actual loans in your name only then yes you could each get your own FHA loan. Technically you can get them each at the same time, but keep in mind that they are used only for primary residences only. So your wife would technically have to be living it the home.
To answer your question specifically though, yes you could get one in your name live in it, move and get the new one in your wife's name without needing to refinance out of your FHA loan. Just be aware that you will have to qualify for the mortgages by yourself them.