Home Selling in 23836>Question Details

Carolynhunt54, Home Buyer in Chester, VA

i am a first time buyer that build a home in 2011,with FHA LOAN the home is two story and not handicap accesable for my disable veteran husband with

Asked by Carolynhunt54, Chester, VA Wed May 1, 2013

the bath room doors too small and steps to climb to bedroom, the lower level do not have space to add on, my questions is can i apply for another fha loan to purchase another home to accomade my family needs and what to do with this home or do i have to sell it first to get approve for another fha loan? thank you,carol

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Carol - If your husband is a disabled veteran, there may be option out there for you that you are not aware of. Have you contacted Army Community Services at Fort Lee? They are a great resource for all sorts of issues, and it doesn't matter which branch your husband served in. And if they are not able to help with your issue specifically, they may be able to guide you to an organization that can. Their number is 804-734-6388. Also, as a disabled veteran, your husband may be eligible for a VA loan that would not have a funding fee. That often depends on the rating he has received. Your best bet there will be to contact a loan officer who handles VA loans. I have worked with one for years that has always done a great job for my clients - he has also received recognition for the loans he does for the Virginia Housing Development Authority. Best of luck and please, thank your husband for his service!
0 votes Thank Flag Link Fri May 3, 2013
Please contact me and I can help you. (804-218-1590)
Thank you,
Scott Mills
0 votes Thank Flag Link Thu May 2, 2013
You may want to explore the possibilities of a no money down VA loan for another home but the answer to your question is that an FHA loan is for an owner occupant so yes you could get another owner occupant loan through FHA for a new home and rent your current home if you financially qualify to carry the expense of both. There may be some other options out there for you depending on the cash you have to put down, credit scores and debt ratios. Give me a call and I will be happy to put you in touch with one of my lenders that can help us decide on a direction that will meet your needs. Glenda Holloway, Associate Broker, Keller Williams Midlothian 804-363-4335
0 votes Thank Flag Link Thu May 2, 2013
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