I Heard The FHA Loan Is Only For 1st Time Buyers, Is That True?

SELF EMPLOYED MORTGAGE LENDERS QUESTIONS AND ANSWERSCategory: FHA QuestionsI Heard The FHA Loan Is Only For 1st Time Buyers, Is That True?
Thomas Martin Staff asked 7 years ago

Absolutely not true. The FHA loan program is designed for everyone from single parents to individuals to multimillionaires. Your past home buying experience could consist of owning 20 investment properties, 5 primary residence or a single condominium. It doesn’t matter. If it’s your primary residence; and the loan meets the loan limits for your area; and the home meets the quality standards designed to protect home buyers; you can get approved without having to be a first time buyer.

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