Monique Hall, Both Buyer and Seller in Milwaukee County, WI

Financing woes...How can you get financing for FHA when you have an FHA loan?

Asked by Monique Hall, Milwaukee County, WI Sat Apr 7, 2012

My husband and I currently have a home through an FHA home loan. We have lived in the home for 9 years. We have two children of opposite sex and it is a two bedroom. We have outgrown the current home (not 25% equity due to housing slump). Additionally, my husband is now working 10 hour shifts in Menomonee Falls and although we would have to live in Milwaukee we would like to live very close to the Falls (53224 zip code). The problem is we may need to rent out our current property, but it is an FHA. Could refinancing it with an investment loan help? Can we have two FHA loans? Do we qualify for any exceptions? Is there any company that can help if we have less than perfect credit, but great payment history on credit lines for the last two years, with a very low debt to income ratio. Our scores are as follows: TU 625,608...Equi 557,583...Exp 533, 563. We are currently working with Lexington law office to get some very old things deleted and our names corrected on our reports.

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