How do i sell fha home in louisiana and them get another fha loan in florida? Help!

First and foremost, do you have a Real Estate Agent to assist with your sale in LA? The sale of that property and your anticipated net proceeds will determine what you can do when you buy in FL.

Hi Sherri! If you are going to move to Florida and make that new home your primary residence, the answer is yes. If you plan on keeping your Louisiana home as a rental property and moving to Florida permanently, you could also get another FHA Insured Mortgage. I would be happy to assist you with a Pre-Approval and/or discussion of the many options for loan programs available, including alternatives to FHA Insured Financing. Please feel free to contact me offline today if you are interested in speaking with me! Thank You and have a Great Day!

Sherri -- thought we had gotten you the answer on this the other day. Get Real Estate agent to list home in LA. Find local licensed Lender in town you are going to in FL -- get pre-approved based on selling home in LA. Once pre-approved, find real estate agent in town you are moving to in FL (perhaps ask LA agent for suggestions.) Explain that you need to have loan in FL close after you close sale in LA. Personally, with the new higher MIP rates on FHA, if you are getting some funds out of the sale of the LA home, I think you would be better offtrying for a conventional loan (down payment difference: FHA 3.5%; Conv. 5.0%). This is something you should discuss with the local lender you find in FL. (If you know what town you are going to, I could possibly suggest a couple for you to contact.)

Sherri, I definitely agree that you should try for a convential loan. The down payment requirement is not much different (5% instead of 3.5%) and the monthly savings you will get on a convential loan vs. FHA with the new MIP rates will be well worth it!

With professional help, you can sell the LA house the same day as you purchase the FL house; the money, and the FHA paperwork, will all come together at once.

Generally speaking, you can not have two FHA loans at the same time. But as long as the LA homes sells first, you can easily get a new FHA loan. The sale of the current home, and the purchase of the new home can be the same day. Contact a local mortgage broker in the area you wish to buy for more assistance.

Don't forget that your FHA mortgage is assumable if that would help you sell your home.