Are FHA loans only for first time home buyers?

No they are not, however, they are geared to help first time homebuyers. There is a 2 year cycle that declares whether you are a new home buyer or not. You can always take advantage for FHA programs.

FHA loans are for a primary residence only but you are entitled to use the FHA loan product even if you have previously owned another property.You are able to have one FHA loan at a time (with a couple of exceptions).

You can use an FHA loan as many times as you want as long as you only own one at a time. The FHA 30year fixed rates are in the low 4%.Please call Lynne Dewar at (928) 814-6362 and I can make sure you have the income and credit needed to qualify for an FHA loan,

You can still apply for an FHA mortgage.. you just cannot have 2 at the same time (under most circumstances). We are here in Scottsdale and can help you get started.... WilliamAcres.com

No. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and Strategic Partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710#!/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall OR call anytime 513-403-6260

FHA Insured Home Loans are not exclusively for first-time home buyers. They are however exclusively for home buyers who intend to occupy the home as their primary residence. Make sure you are working with a HUD Approved Lender when you do decide to buy your next home.

Yes you can use FHA to purchase your next home. The fact that you previously had a home is not a factor. Nova Home loans is Headquartered in Tucson, and I would love to help you get pre-qualified so you can shop for your next home with confidence. Give me a call at 520-829-5555 Option #2 or 888-889-9950.

The simple answer to your questions is no. Whether you are a 1st, 2nd, or 3rd time buyer, an FHA loan is available to you.Most people believe that FHA loans are only for those with limited finances, and/or 1st time home buyers. This is patently untrue.Granted, most of the homes purchased with FHA loans are by these type of borrowers, but considering that about 40% of the homes bought today are with FHA loans, obviously, others are purchasing their homes with them.For people who have minimal funds for a down payment, or for those who have enough to put 20% down but don't want to invest a great deal of cash in their homes because they have better uses for it, FHA loans are very advantageous. In addition to the 3.5% down payment (or possibly lower), FHA interest rates are currently about .25% to .75% less than conventional ones depending upon the lender. That represents a savings of $30 to $90 monthly on a $200,000 purchase compared to what it would be with a conventional loan. Furthermore, qualifying for a FHA loan is much easier than for a convetional one.

You are eligible to apply for a FHA loan but you also need to check your options with conventional products, 97% products with no mortgage insurance, rural development, etc. Although I love FHA - it isn't always the best monthly payment and/or overall finance option for every borrower. Make sure your working with someone that will provide you with all of the options, the APR's for every loan type and the overall interest paid over the life of the loan. GOOD LUCK!