Anonymous asked in Business & FinanceCredit · 1 decade ago

qualifying for a FHA loan?

I am currently looking at a foreclosed home. The home is a hud home. financing is avaliable threw fha. I already own a home. Will I still qualify for an fha loan since I am already a home owner?

3 Answers

  • Anonymous
    1 decade ago
    Best Answer

    FHA is for first time buyers that is trying to get a start in life you need to go a bank and see if they can help you out

  • 4 years ago

    Hi Polittle, If you don't have the down payment for an FHA loan, and can't get the first time homebuyer 2nd mtg Bob mentioned, there is another way to save up the downpayment. I have a couple of friends who did this recently. Your husband can change his paycheck tax withholding to "exempt". Then, save the extra take-home money until you have the down payment. Then, change the withholding back. Basically, you will be borrowing the down payment from the IRS. When taxes are due, you can make arrangements to pay what you owe in installments. It works out to be a really cheap loan, and the IRS is easy to deal with. This won't show on your credit report as any debt owed, as long as you don't default on your payments, which won't become due until after you file taxes next April.

  • Anonymous
    1 decade ago

    Hi I Mrs Joy Anderson, i am from New YorK, i saw your question on yahoo answer and i want to refer you to the international loan company that help me consolidate my debit when i was searching for loan and i was in a bad shape, a friend of mine introduce me to clarke loans company that help me get out of my debit,the company offer so all kinds of loan to any where in the world at a very low interest rate and even if you have a bad credit and low income they still offer they service so long you agree to the repayment information, they are the only international loan company that can help you get a quality loan with a fast them and i am sure they will be of great help to you .within 24hours. here is their contact


Still have questions? Get your answers by asking now.