Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

16
Posts
3
Votes
Daniel Gibson
  • Rental Property Investor
  • Tampa, FL
3
Votes |
16
Posts

FHA loans and marriage

Daniel Gibson
  • Rental Property Investor
  • Tampa, FL
Posted

My fiancée and I are planning to move to Florida in Dec 2020, buy our first ever property, and we'll be getting married in Feb, 2021. The plan is to buy a fixer upper and house hack. The long term plan is to stay in Florida for ~one year before renting out our property and moving to Chicago to buy another property. 

I was originally planning to buy the property in Florida using an FHA loan, however, knowing that I can only play that card once (most likely) , I'd prefer to use an FHA loan to purchase a property in Chicago, where the house prices are generally higher than the part of Florida we'll be moving to. Given I have a few options, I also have a few questions:

Scenario A - I use an FHA loan to purchase the house in Florida
Q:
Can my soon-to-be wife qualify for an FHA loan if I already have one after we get married?


Scenario 
B - I use a conventional loan to purchase the house in Florida
Q: 
Can I qualify for an FHA loan if I already have a conventional loan?

    Additional context: 

    • - I have a good credit score ~765
    • - I have ~$30,000 for a down payment (I've been assuming I'd go with an FHA loan @ 3.5% down and planned to use the rest on fix up costs)
      - My fiancée's credit is okay (mid-600s)

    Loading replies...