FHA Loan- I'm a first time buyer, looking at buying a house basically for my mom, which I will use as "home base" to do travel nursing

Asked by Verve, 45420 Tue Nov 24, 2009

arund the States. What are the guidelines for occupancy with the FHA? And will they interfere with the career?

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Melissa Mcdu…, Home Buyer, Memphis, TN
Tue May 10, 2016
Your biggest problem will be your career. Lenders tell travel nurses or agency nurses that their work is unstable and they are high risk for default. they obviously have no idea how travel nursing works and that travel nurses can always find a job! But many are getting turned down and some have had to take staff positions making way less than income just to be approved for a mortgage. They will all pre-approve you. That means nothing, its getting through underwriting that matters. Lenders are shooting themselves in the foot by not giving travel nurses loans for housing. It is ridiculous. I had a lender tell me they could NEVER give me a mortgage loan no matter how long I was employed by the company Ive been with for 7 years and never lacked work with and Im local Memphis area agency nurse, all because of the nature of per diem work, or contract work. Good luck, some say going to smaller banks may open a door, but the big lenders will deny you. Doesn't matter if your credit score is 800 and you have a down payment. Best deal is to save up the money and pay cash, or buy land first and pay it off so you have leverage also. I will never leave my career, I have more stable work than any nurse I know and lenders should be begging me to get a loan with them. smh
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Evesta J. St…, Agent, Beavercreek, OH
Fri Mar 26, 2010
Hi Verve, did you ever find your home? April 30th is the deadline for the tax credit. Evesta J. Stewart with Big Hill Real Estate in Beavercreek, OH. Call me if you are still looking, 937-269-3352 I love to go shopping. (Looking at homes)
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C. MICHAEL R…, , Dayton, OH
Fri Dec 4, 2009
Hello from Dayton Ohio! Feel free to call my FHA lender. Over the phone, at no cost to you, she can answer your question and pre-approve you. No cost & no obligation. She is truly the best FHA lender I know. Her name is Shirley Hapner. She can be reached at 937-427-9641.
My website is http://www.MikeSellsDayton.com Let me know if I can help you. Michael Royce 937-718-7915
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Mary Starkey, , Dayton, OH
Tue Nov 24, 2009
Verve, as long as your name is on the deed as well as the mortgage, there should not be any problem with your mother living with you. Do you own another home or have another FHA loan? One is only allowed one FHA loan to be used for a primary residence.
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Christina Ca…, Agent, Washington Township, OH
Tue Nov 24, 2009

Sounds like it is going to be an owner occupied home, so no problems there! Please contact me for more information. I noticed you live in zip code 45420, which is where my first home is located in Belmont. I've sold many homes in the Belmont and Kettering area, and would be happy to help you. Have a Happy Thanksgiving!

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tom roberts, Agent, powell, OH
Tue Nov 24, 2009
Verve,I believe if you put in mom name,doesnt matter,if you want on the deed,You may have to be owner accupant.
Web Reference:  http://tjrobertsrealtor.com
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Chad Baird, , Dayton, OH
Tue Nov 24, 2009
It needs to be your primary residence or "Home Base". The fact that you travel alot and your Mom lives with you should not be an issue. Feel free to contact me if you need assistance with your search.
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, ,
Tue Nov 24, 2009
Hi Verve,
Thank you for your question...so I am assuming that the home you purchase will be for you to live out of while you're not traveling for work, and also for your mom to live in as well?
As far as occupancy, the property simply needs to be your "primary" residence. As long as you "live" there for 6 months and 1 day, it's considered to be a primary residence. On the same token, if it is your "home base," and you are a first time home-buyer, FHA would not have any problems with your work schedule and the traveling that is needed for your career. If you would like some further information, please do not hesitate to contact me. Our company specializes in FHA and USDA loans, and would be more than happy to arrange the financing for you, not to mention interest rates have dropped dramatically from a couple months ago!

Joshua Pick
Sr. Mortgage Consultant
216-236-7266 direct line
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