Principal residence – 1 FHA loan allowed per person, except when the applicant has an FHA property and wants to buy a 2nd owner-occupied FHA property due to:
– Relocation – not within reasonable commuting distance
– Increase in family size – current home Loan to its Value is 75% or less as established by an appraisal
– Vacating a jointly owned property (non-occupying co- applicant) generally 1 FHA per person
– Family member has co-mortgage for another family member
For more information give us a call 904-298-3015 we even answer our phones and return all calls in the same day if called in before 5PM.
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