First Home Buyer (FHA)

[Aaron Daniel]

Good morning!

I am getting married on February 19, 2021. I have never bought a home. If I used an FHA loan before I got married, could my soon to be wife use another FHA loan after we got married? She has never bought a home either.

p.s. new to real estate and seeking mentor. Let’s connect!

Thank you!

Aaron

[Peter Mckernan]

Hey @Aaron Daniel congrats on getting married! Yes, two different people can get an FHA loan that have never boughten a house before. The first time home buyer programs like these are huge with that 3.5% down offer. The catch is that you have to be an owner occupied owner for the first year if using one of these methods for a house. The bank/lender will hire a real estate professional to drive around to homes (just drive by), and check if the house is rented or it looks like the house is vacant, and they have some other items that are asked of that real estate professional to get a status update for that house.

Also, there are a lot of questions that the lender will ask during escrow as in why your wife is getting the loan, or you are getting the loan so soon after the first purchase and more info. So it is not a cut and dry method. It's done at your own risk.