Financing in 38654>Question Details

Montana, Home Buyer in Olive Branch, MS

I am currently having a house built under an FHA loan. Can I marry someone who already has an FHA loan on thier home without affecting my close?

Asked by Montana, Olive Branch, MS Thu Aug 8, 2013

I got divorced in 2011 after 18 years of marriage. The house we lived in is under his name only since I was not working at the time the home was purchased 9 years ago but my name is on the deed. A few months ago I applied for an FHA loan on my own as single. Got a contract written with a builder and my house is currently being built. My ex and I have now reconciled after a year and a half being divorced and want to be re-married. Will that prevent me from being able to close on my house since we now both have FHA loans? He is planning on renting out the current home. Do not want to wait until house is built to be married but also do not want to jeopardize closing on the house. Do I need to disclose that I got remarried when I close?

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Hi Montana,

This could be an issue. FHA generally doesn't want borrower's having more than one FHA loan at a time - although there are some extenuating circumstances where FHA will allow for this.

To be complete, honest and upfront - you would need to discuss this matter with your loan officer. The mortgage loan application you sign at closing will need to be correct and accurate.

There may be some ways to handle this issue, you just need to discuss everything with your loan officer.
0 votes Thank Flag Link Fri Aug 9, 2013
I do not see a problem with buying the new home. Neither loan is subsidized loans. I would talk to my lender about it prior to closing.
0 votes Thank Flag Link Thu Aug 8, 2013
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