Can you use FHA loan if this is the second home you are buying or is FHA only for the first home?

As long as it will be your primary residence you can use an FHA loan.

You can use FHA as often as you wish, but you can only have one FHA loan at a time.. Just like all rules, there are exceptions, and this rule is no different, but for most, you can only have one FHA loan at a time.. That being said, a good loan officer will look at your complete scenario, and determine which loan product would be best for your particular scenario.. currently, FHA has the highest rate of mortgage insurance of any loan product.. so it might be better to look at conventional financing. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

FHA is only for use on your primary residence. With rare exceptions, you can not have more than one FHA loan at any one time. For your second home purchase, which should be at least 50 miles away, and a "destination area" is preferable, you will need 20% down in most cases.

Hello,If you currently have an FHA loan you can only buy another home with an FHA loan in very limited situations. (I would have to go over in detail with you to determine) If you had an FHA loan in the past, but do not have one now, there is no problem with obtaining another as long as you meet the standard underwriting criteria. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

FHA only allows you to use it to purchase your main home, and generally speaking, you can only have one FHA loan at a time. It is possible to have a second FHA loan under some rare circumstances. Otherwise a standard second home / Vacation home can be bought with 10% down. If the second home is to be rented, then you need 20% down. www.Minneapolis-Mortgage.net