What are the restrictions on getting more than one FHA loan?

The only way you can have 2 FHA mortgages at the same time is if you needed to move for a new job or to aid a sick family member.... Otherwise you would need to sell or payoff your existing FHA mortgage.. If you have already sold / paid off an FHA mortgage, then there are no restrictions as to how many FHA loans you can get, you just can't have more than 1 at any given time.. (Within the allowable exceptions)... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Technically, you are allowed to have one FHA Insured Home Loan since a prerequisite is that you maintain the mortgaged home as your primary residence. There are however situations that would allow you to have multiple FHA Insured Home Loans dependent on your individual circumstances. If you would like more information, contact my TEAM here in the Chicagoland market. Happy New Year!

FHA only allows a borrower to have one FHA loan at a time. True, there are exceptions made, but generally they are only granted when you have been job transferred out of state, or beyond a reasonable commute. In all my years, I have only seen two exceptions approved and both were job transfers within the same company, and both required moves out of state. I've also had a job transfer where the new job required a 65 mile each way commute, denied, because the customer was already commuting 30 miles each way and an additional 35 miles was not deemed to be too far. If you no longer have an outstanding FHA, even if it paid off yesterday, you would be eligible again. If you need a new FHA while you still have one, work with A local Licensed Mortgage Professional to determine if your situation could warrant an exception. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Unfortunately you can only have one FHA loan at a time.

If you were a cosigner on another FHA loan, (non occupant coborrower) you can apply for another FHA loan as your primary residence. You must be able to prove that the individual you cosigned for on the other FHA loan is making the payments on their own.

You can actually have more than 1 FHA Insured Loan if you meet certain requirements. Contact me directly via my profile to discuss the requirements and if you meet them. Thank you and enjoy the day!

You can only have two FHA loans if you are being relocated. Otherwise you would need to refinance, sell or payoff your existing FHA mortgage, then apply for another.

Technically, you are allowed to have one FHA Insured Home Loan since a prerequisite is that you maintain the mortgaged home as your primary residence. There are however situations that would allow you to have multiple FHA Insured Home Loans dependent on your individual circumstances.

From your question it sounds like you had an FHA loan at one time and now need another. If the 1st was paid off, then you can get one right now so long as you meet the credit score and income qualifications. If you still have that loan then read all the comments above about having, or getting, a 2nd FHA loan.

All answers are spot on. Question to you: What if you tried Conventional instead of FHA?

Generally speaking, you can have only one at a time. There are some exceptions, so check with a local non-bank licensed loan officer for more details. If you are concerned because you have a current FHA loan, and are selling the house and want to buy the same day with a new FHA loan, this is NOT a problem.