Secret Hack to get two FHA loans - CHEAP Mortgage Rates! 🏡 #shorts

This is a hack that you can use to be able to buy two homes with a very low down payment and mortgage rate! WATCH NOW to learn how you can do it too!!

#realestate #realestateinvesting #realestatetips #investing #investingeducation #investingforbeginners #money #moneytips

It's important to clarify that FHA (Federal Housing Administration) loans are typically designed to provide financing for individuals and families who want to purchase a primary residence, including married couples. FHA loans are not specifically tied to individual names in the way you might be thinking. However, I can provide you with some information on how married couples can use FHA loans to purchase multiple properties if that's what you're looking for.

Here's how a married couple can utilize FHA loans to purchase two homes:

Eligibility Requirements: Both spouses must meet FHA eligibility requirements. These requirements typically include a minimum credit score, a stable employment history, and a debt-to-income ratio that falls within acceptable limits.
Loan Application: Each spouse can separately apply for an FHA loan. The lender will evaluate each spouse's financial situation individually. They will consider each person's credit score, income, and debts to determine their eligibility and the loan amount they qualify for.
Property Selection: The couple can select two properties they want to purchase, one in each spouse's name. Both properties should be intended as primary residences, as FHA loans are generally not meant for investment properties.
Down Payments: FHA loans typically require a minimum down payment of 3.5% of the purchase price. Each spouse can use their own funds or savings for their respective down payments. Keep in mind that the down payment amount may vary based on the purchase price of each property.
Loan Approval: If both spouses are individually approved for their respective FHA loans, they can proceed with the purchase of the two properties. The lender will assess each application separately and issue two separate loan approvals.
Loan Limits: FHA has loan limits that vary by location. It's important to ensure that the purchase prices of the two properties are within the FHA loan limits for the areas in which they are located.
Mortgage Insurance: FHA loans require mortgage insurance premiums (MIP) for the life of the loan, which is an additional cost. Each spouse will have their own MIP associated with their FHA loan.
Residency Requirements: Both spouses are required to occupy their respective properties as their primary residences. FHA loans are not meant for second homes or investment properties.
Loan Servicing: After closing on the two properties, each spouse will make mortgage payments on their respective loans. The loans will be serviced separately by the lender.
Legal Considerations: It's important to consult with legal and financial advisors to understand the legal and tax implications of owning multiple properties as a married couple. There may be considerations related to community property laws and tax implications.
Remember that the process may vary slightly depending on your specific circumstances, and it's crucial to work closely with a qualified FHA-approved lender who can guide you through the application and approval process. Additionally, FHA guidelines and policies may change over time, so it's essential to check the latest requirements and regulations before proceeding with your real estate transactions.

Disclaimer:
The content of this video is for informational and entertainment purposes only and should not be considered as financial or investment advice. Any financial decisions you make should be based on your own research and consultation with a licensed financial professional. The creators of this video and its contents will not be held liable for any financial losses incurred as a result of following the information provided in this video. Always conduct your own due diligence and seek professional advice before making any financial decisions.

[heligiocabral]

Does this include multifamily homes like duplexes? Even if we are married?

[larryfiedler]

Do you have a number I can call that I can talk to you about this?!