FHA LOAN IF MARRIED

Posted: Tue Jun 16, 2009 8:22 pm Post subject: FHA LOAN IF MARRIED

Hi everyone, I have a quick question in regards to the FHA loan. I owned 3 houses in the last year or so and they all went into foreclosure last year. I was the only one on the mortgage and my husband was not. We are trying to buy a house in my husbands name ONLY using FHA, is this possible??? Please help

gunzijjistaff · Joined: 07 Apr 2009 Posts: 606 14.57 Dollars($)

Hi Guest,

Welcome to our forum.

Yes, I will possible to get FHA( Federal Housing Administration ) loan on your husbands name if he is not still paying any dues or stopped to pay dues of loan . He must have 620 minimum credit score to qualify for FHA.

Thanks & Regards.

jenkin7 · Posted: Tue Jun 16, 2009 11:27 pm Post subject:

Hi Guest,

If the previous three houses were financed solely in your name, the foreclosures should not affect your husband's credit. He should be able to qualify for an FHA loan, provided he has a good credit and meets other qualifying criteria. A minimum of 620 credit score is required to qualify for the FHA loans. There should also not be any major negative items on the credit report of the borrower.

robertsmith2005 · Joined: 22 May 2009 Posts: 338 -0.53 Dollars($)

yes. if he is meeting some of the conditions as desribed above

Guest

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brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

I would not say with 100% certainty yes. There are reports called Fraud searches and if his name was tied to the homes in anyway (deed, mortgage, title) it is possible that will come up on the background fraud search. I would recommend you tell your broker/banker upfront about this issue so they can do the searches first, the last thing you want is to spend money getting to closing only to have something come up and the deal dies.

gmakerley · Posted: Wed Jun 17, 2009 9:20 am Post subject:

a little sanity...thanks brian.

Guest

Hello everyone! I would like to thank you for all your replies! I actually live in California and no,my husband was NOT on any of the 3 houses, I talked to 3 lenders so far and they are telling me that he does NOTqualify for FHA because I owned 3 houses in 2007. My husbands credit and income is fine, he qualifies for fha but the lenders are stating that I am the problem, if anyone out there is a lender, please reply with your contact info so we can set up something, thank you so much! Continue the postings!

gmakerley · Posted: Mon Jun 22, 2009 11:29 am Post subject:

this must be a california-specific situation, due to the community property law - is that a logical conclusion?

based on my lack of knowledge of california law/community property law, i have no answers to the above, but simply conjecture and, frankly, curiosity.

Guest

I am in the same type of situation. My husband owned a home in his name before we got married and the home went into foreclosure. Now, I would like to purchase a home, but only in my name and I am a first time buyer. Your postings are helping me get an idea if I also will be able to qualify here in CA. HELP!

robertcampbell07 · Joined: 25 Aug 2009 Posts: 52 -0.11 Dollars($)

your query is already answered. you may be facing problem due to CA specific laws.

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