In a community property state (such as Wisconsin), if you purchase with FHA financing in your name alone, then the debts of the non-borrowing spouse (in your situation that'd be his mortgage + any other consumer debts) are counted against your debt to income ratio without the benefit of any of his income. However conventional financing does not have that requirement. You may also be interested to know that someone can have more than 1 FHA loan at a time depending on the situation, and one of those situations is if you are being relocated for employment to an area not within commuting distance of the previous home. Since you said you relocated, and if it's not within commuting distance, then it's possible that you and your husband could both be on a new FHA loan together if that is what you wish. Otherwise conventional financing would be a good alternative, and if you have good to excellent credit scores, could very well be a better alternative to FHA financing. If you have further questions feel free to ask them here or contact me.
Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans | 949-273-4161 direct