Q. Can only first-time home buyers use a FHA loan program?
A. No. You can use a FHA loan as many times as you desire. The only guideline is that you cannot have more than one outstanding FHA loan with a loan to value of higher than 75%. You can own rental property and purchase your primary residence using FHA financing.

Q. Does FHA use a FICO credit score for qualifying?
A. No. FHA is one of the only types of real estate mortgage loan programs that currently does not require a FICO score.

Q. Can I streamline refinance my FHA loan at any time?
A. Yes, you can streamline refinance assuming that the you are lowering your monthly payments or converting the loan to a fixed rate mortgage.

Q. Can I buy a 4 Unit Home with FHA loan financing?
A. Yes, you may use a FHA mortgage for 2,3, or 4 unit home purchase assuming that the FHA loan amount does not exceed the maximum loan limits for where the property is located.

Q. Can I buy a home with no down payment and get 100% financing using a FHA loan?
A. Yes. Using a FHA insured real estate first mortgage in combination with other specialized programs, you may be able to buy a home with no money down.

Q. How long after a bankruptcy can I use a FHA loan to buy a home or refinance my mortgage loan?
A. You may buy a home or refinance your mortgage using a FHA loan two years after the date of discharge for a bankruptcy, assuming that you have maintained perfect credit since the discharge of the bankruptcy.

Q. How long after a Foreclosure can I use a FHA home loan to buy a home or refinance a mortgage?
A. Three years after the final date of foreclosure you may use a FHA loan to buy a home or refinance, assuming that your credit since the foreclosure has been perfect.

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