“We can Absolutely do another FHA Mortgage for this Client”
Good morning Joe, hope all is well.
This couple we did bought a home in Springfield a couple of years ago. They are now asking me about purchasing in Hamden or Wilbraham and how much money they would need to come up with. For sure they want to use you for their mortgage again. Just so you know they thought the world of you.
We’d have to sell their place in Springfield which I couldn’t imagine being a problem. I’m being proactive coming to you they haven’t ask to go that far yet. Would they be able to do another FHA 3.5% down loan or will it change this time around?
You cannot have two FHA loans at the same time but as they are planning on selling their current home, there is no issue. By the way there are exceptions to the guideline of not having two FHA loans at the same time. Let me know if you want to know the exceptions.
There is this misconception that you must be a first-time home buyer to be able to obtain an FHA loan, which is totally NOT true.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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