How Many FHA Loans Can You Have?
Author:
Miranda CraceApr 3, 2024
•4-minute read
A Federal Housing Administration (FHA) loan is a good choice for borrowers with less-than-perfect credit and borrowers struggling to save a large down payment. However, it’s a poor choice if you want to use the loan to finance the purchase of multiple investment properties.
Why? Because in most cases, you can only take out one FHA loan at a time. Let’s explore in detail just how many FHA loans you can have.
Can You Get An FHA Loan Twice?
You can take out more than one FHA mortgage loan during your lifetime. But in most cases, it’s no more than one at a time.
That’s because the FHA wants borrowers to use the FHA loan to buy a primary residence. The Federal Housing Administration doesn’t want borrowers to take advantage of the loan’s relaxed requirements and take out multiple FHA loans to purchase investment properties.